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Home >> Stock Forums >> Options as a Strategic Investment

Options as a Strategic Investment

Rbreb13 said: "Options as a Strategic Investment (4th Edition) By: Lawrence G. McMillan This book is often referred to as the "Options Bible" by many people. Its a huge book and discusses many types of options strategies. Its sometimes a pretty dry read but the information and detail it goes into are superb. It not only covers the strategies but also the math involved in being a successful options trader. I think even experienced options traders can benefit from the book. Just read some of the reviews that are out there. Its almost 1000 pages so it will be a long read. I've been reading in sections, then paper trading what I learned. Then I move on to the next section. It covers most of the basics and some advanced trading. Covered calls, spreads, straddles, butterflies, etc. It doesn't have some of the newer things like the Iron Condor but those you can learn online after learning the basics. I often fall back on it for reference as you will once you own it. You can find it at most good bookstores or online. Wherever you go to get it [B]BE SURE to get the 4th Edition[/B], it will be a hardcover not a paperback. It should cost between $40-$75 depending on the store. [COLOR="Red"][B]WARNING:[/B] There is a paperback book out with nearly the same title but it is just a study/tests book on the hardcover. Retails around $25. It is useless without the main book. So don't go thinking you've found a good deal, you haven't![/COLOR]"

duck_oil said: "Thanks for the review. I think I might pick this book up sometime."

lissasara said: "Excellent Review! Keep up the good work. Thanks a lot for providing such an wonderful book."

dabrozio said: "For those of you who want to learn options but don't want to pay too much money and take on too many pages, there are two good books I would recommend. 1. The Compleat Option Player by Kenneth R. Trester 340 pages 2. Getting Started in Options by Michael C. Thomsett 224 pages And for those who are really after a very simple version you can try "Stock Options for Dummies” by Alan R. Simon, Lynn E. Taylor All the above books are availabe from Amazon.com and from other large bookstores."

TheOptionClub said: "I can also vouch for "Options As A Strategic Investment." :th_dblthumb2:"

prohobo said: "[QUOTE=Rbreb13;55808]Options as a Strategic Investment (4th Edition) By: Lawrence G. McMillan This book is often referred to as the "Options Bible" by many people. Its a huge book and discusses many types of options strategies. Its sometimes a pretty dry read but the information and detail it goes into are superb. It not only covers the strategies but also the math involved in being a successful options trader. I think even experienced options traders can benefit from the book. Just read some of the reviews that are out there. Its almost 1000 pages so it will be a long read. I've been reading in sections, then paper trading what I learned. Then I move on to the next section. It covers most of the basics and some advanced trading. Covered calls, spreads, straddles, butterflies, etc. It doesn't have some of the newer things like the Iron Condor but those you can learn online after learning the basics. I often fall back on it for reference as you will once you own it. You can find it at most good bookstores or online. Wherever you go to get it [B]BE SURE to get the 4th Edition[/B], it will be a hardcover not a paperback. It should cost between $40-$75 depending on the store. [COLOR="Red"][B]WARNING:[/B] There is a paperback book out with nearly the same title but it is just a study/tests book on the hardcover. Retails around $25. It is useless without the main book. So don't go thinking you've found a good deal, you haven't![/COLOR][/QUOTE] While a great book...and I recommend it...the ACTUAL "BIBLE" of option books (considered by most Market Makers) is "Options Volatility and Pricing" - by Natenberg. Together both these books will give you almost everything you need to know ABOUT options. However - these are not TRADING guide books, but rather detailed explanations on how option works and some general strategies. Natenberg really gets into the pricing and volatility aspect - which is a MUST if you plan on understanding options. McMillan's book is a great (the) primer with some basic understandings of option strategies. I have always thought these books should be sold together."