By Erik Kobayashi-Solomon

The Intelligent Option Investor

An Intelligent Investor’s Guide to Investing with Options

This guide melds an intuitive explanation of options — simple, directional tools that allow a peerless way to tailor investment exposure — with a clear-eyed valuation framework and actionable advice on avoiding the behavioural biases that so often affect individual and institutional investors alike.

Author Spotlight

Erik Kobayashi-Solomon

Erik has spent his career assessing the value of investments and incorporating options into investment portfolios.

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Web Appendicies

Web Appendix I works through an actual investment analysis. Web Appendix II delves into the topic of valuation ranges.


A few mistakes and typographical errors slipped through the writing and editing process.

Spreadsheet Tools

We have developed a spreadsheet model to value companies and a tool that allows you to create a BSM Cone.

Erik’s method is the only sensible way to think about investing with options in a value oriented fashion.


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