McMillan on Options (A Marketplace Book) | 
 enlarge | Author: Marketplace Books
Publisher: Wiley
Category: Book
List Price: $69.95
Buy New: $5.99
You Save: $63.96 (91%)
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Rating:  25 reviews
Sales Rank: 471534
Media: Hardcover
Edition: 1
Pages: 592
Number Of Items: 1
Shipping Weight (lbs): 2.1
Dimensions (in): 9.3 x 6.3 x 1.5
ISBN: 0471119601
Dewey Decimal Number: 332.63228
UPC: 723812119608
EAN: 9780471119609
ASIN: 0471119601
Publication Date: October 7, 1996
Availability: Usually ships in 1-2 business days
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Product Description
Acclaim for the definitive guide to options trading?by the nation's top options expert "In Options As a Strategic Investment, Lawrence G. McMillan demonstrated that he was without peer as an options strategist and educator. McMillan on Options is an outstanding sequel whose 'take-home value' for the reader goes beyond education to include a number of practical option trading approaches and techniques."?Bernard G. Schaeffer, FCAS President, Investment Research Institute, Inc. "Lawrence G. McMillan is an options guru par excellence. He tracks increased options volume, which often indicates a big move in the underlying stocks. Absolutely must reading for all day traders."?Yale Hirsch 1997 Stock Trader's Almanac "Without a doubt the best options book currently available. McMillan on Options is a must-read for anyone professionally or individually interested in options."?Thomas J. Dorsey President, Dorsey Wright & Associates McMILLAN ON OPTIONS is savvy, streetwise, and always ahead of the investment curve. That's why results-hungry options traders, institutional investors, and portfolio managers made his Options As a Strategic Investment a bestseller. Now, Lawrence G. McMillan, the country's top options expert, has written his definitive guide on options trading strategies. With revealing insights on the predictive power of options, trading systems, and strategies, both short- and long-term investors will appreciate McMillan's in-depth coverage of: - stock, index, and futures options
- a wide range of strategies?and how they can help you make money
- numerous case studies, figures, and examples that illustrate key concepts and ideas
- the methodology of trading, from order entry to data sources
- the integration of theoretical issues with practical applications of techniques, strategies, and trading methods
- Illuminated by the author's personal options philosophy, McMillan on Options is the most up-to-date, innovative, and complete option strategy resource available.
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| Customer Reviews: Read 20 more reviews...
A Must Read December 4, 2008
Maxim Masiutin (Chisinau, Republic of Moldova)
2 out of 2 found this review helpful
Lawrence G. McMillan is the author of the famous title "Options as a Strategic Investment". What's the difference between the two books? This one is entirely different: it teaches option trading in actual examples, and is not intended to be a complete definition of strategies. This is a book in which the application of options to actual trading situations is discussed. It assumes that you are already familiar with the stock market to some extent and have traded stocks but not options. There are plenty of real trading examples, many of them taken from the author's trading experience. In addition, there are a number of stories--some humorous, some more on the tragic side, that illustrate the rewards and pitfalls of trading, especially trading options. If you like the analysis of historic events in the markets, I can also recommend "The Only Three Questions That Count" by Ken Fisher, in addition to this book. If you like the history even more, I can recommend the trilogy: Financier, Titan and The Stoic by Theodore Dreiser. Seriously!
Pros:
- explains in a very interesting way the history of listed options and other historic events;
- humorous, vivid, entertaining and amusing;
- unique advises from the author's experience;
- uncovers the predictive power of options in a very detailed manner with lots of case studies
- analyses the seasonality of volatility, The January effect, Late-October Buy Point, and other patterns and dependences;
- excellent chapters about the trading philosophy;
Cons:
- Chapters about selecting the right broker, getting the quotes and understanding the order flow are outdated;
- An important technique of selling puts as a way of buying the underlying security is not covered in this book, but covered in the others first book "Options as a Strategic Investment". Warren Buffett obtains most of his stock holdings through selling puts. He got most of his Coca-Cola Holdings this way, and, recently, Burlington Northern Santa Fe. If you are interested in this technique, read chapter 19 of "Options as a Strategic Investment";
- Doesn't have a single references to other books.
There are many books about options, but this is a must read.
 A bit too dated December 1, 2008
ML (Singapore)
I haven't read much on options, but wanted a book about trading options (with all complexity that involves). This book feels a bit dated. It does a fair job describing different strategies; straddles, butterflies, etc. But it doesn't do a good job describing different technical measures. It does cover the put-call ratio, but you do not get a feel for how useful the measure is. Implied volatility is hardly covered at all and ditto for VIX. That is just not acceptable. Note that this is a second edition so the original book is quite old. I don't think there is much change between the editions.
I don't have a better suggestion because options are not really my thing, but I would love if somebody has a better book to recommend. Please add in the comments section.
 Thorough presentation February 25, 2008
John Treiber (Wisconsin)
1 out of 1 found this review helpful
Written well to help new or relatively inexperienced in the options field. I learned much and have used the knowledge gained immediately.
The God of Options on Paper February 9, 2008
golem (CA, USA)
2 out of 4 found this review helpful
Think of this as the Bible for the options trader. It's the word from the God of Options trading.
I think at least half of the book is common sense, but then again, I learned options trading when I was in my mid-late teens.
Well written, put together, organized. My only suggestion is to the publisher - make it cheaper!
Interesting reading on options June 27, 2007
A. Bayle (Phoenix, AZ)
1 out of 2 found this review helpful
This is not a textbook of option strategies and option trading. However, it makes for interesting and educative reading. If you want to learn the trade strategies in depth, I recommend the companion book by Lawrence McMillan "Options as a Strategic Investment".
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