Chapter 1: Basic Concepts The Case for Short-Term Tradinging -- Recent Changes in the Options Market Support Day Trading -- Unstable Markets Provide Unique Advantages to Option Traders -- Technical Anakysis, Technical Indicators, and Price Distoortions -- Endnote-- Chapter 2: New Directions in Automated Trading -- key Concepts -- High Performance Computing and Market Efficiency -- A Simple Illustration -- Testing the Market Efficiency -- Fooled by Randomness -- Insider Trading -- Summary -- Further Reading -- Endnotes -- Chapter 3: Trading Volatility Distortions -- Key Concepts -- Introduction - The Implied Volatility Surface -- Calculating Fair Volatility -- Alternate Trade Structures -Backspreads -- Volatility and Price Spike Distribution -- Summary -- Endnotes -- Chapter 4: Working with Intraday Price Spike Charts -- Key Concepts -- Introduction - A New Charting Tool -- Basic Calculations -- Price Spikes at the Single - Minute Level -- Examples of Ultra-Short-Term Volatility Swings -- Summary -- Chapter 5: Special Events -- Key Concepts -- Introduction -- Unavoidable Volatility Distortions -- Event Trading -- Summary -- Endnotes -- Index