Algorithmic just means using a computer to decide what to do, and often to execute the trades too. What I described can and was done by manual options traders.

Algorithmic just means using a computer to decide what to do, and often to execute the trades too. What I described can and was done by manual options traders. As for a guide yes it's hard due to all the get rich quick adverts. Perhaps read Wilmott to get an overview of how things are priced.