wholesale Options as a sale Strategic new arrival Investment: Fifth Edition sale

wholesale Options as a sale Strategic new arrival Investment: Fifth Edition sale

wholesale Options as a sale Strategic new arrival Investment: Fifth Edition sale
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Product Description

The market in listed options and non-equity option products provides investors and traders with a wealth of new, strategic opportunities for managing their investments. This updated and revised Fifth Edition of the bestselling Options as a Strategic Investment gives you the latest market-tested tools for improving the earnings potential of your portfolio while reducing downside risk—no matter how the market is performing.

Inside this revised edition are scores of proven techniques and business-tested tactics for investing in many of the innovative new options products available. You will find:

•Buy and sell strategies for Long Term Equity Anticipation Securities (LEAPS)
•A thorough analysis of neutral trading, how it works, and various ways it can improve readers’ overall profit picture
•Detailed guidance for investing in Preferred Equity Redemption Cumulative Stocks (PERCS) and how to hedge them with common and regular options
•An extensive overview of futures and futures options

Written especially for investors who have some familiarity with the option market, this comprehensive reference also shows you the concepts and applications of various option strategies -- how they work, in which situations, and why; techniques for using index options and futures to protect one’s portfolio and improve one’s return; and the implications of the tax laws for option writers, including allowable long-term gains and losses. Detailed examples, exhibits, and checklists show you the power of each strategy under carefully described market conditions.

About the Author

Lawrence G. McMillan is a professional trader and the author of the bestselling Options as a Strategic Investment. He appears regularly on CNBC and Bloomberg TV, and is the recipient of the prestigious Sullivan Award due to his contribution to the growth and integrity of the US options markets. He is founder and president of McMillan Analysis Corporation.

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4.7 out of 54.7 out of 5
557 global ratings

Top reviews from the United States

Aaron M. Wright
5.0 out of 5 starsVerified Purchase
Holy smokes! This book is amazing!
Reviewed in the United States on October 3, 2019
I''ve read every search result online about options trading, and learned enough to start messing around with it. I''ve been trading them for a few months with a small account. Then I bought this book and realized how much I don''t know. Just a few things I have... See more
I''ve read every search result online about options trading, and learned enough to start messing around with it. I''ve been trading them for a few months with a small account. Then I bought this book and realized how much I don''t know.

Just a few things I have learned from this book:
- The inner workings of the options market, including what happens behind the scenes when an option expires or gets exercised.
- The best explanation I''ve ever read of time value decay and how it relates to volatility of the underlying stock
- Why you probably should trade short term options instead of long term
- How to calculate a realistic estimate of risk vs. reward of a potential option play
- Different ways of writing covered calls depending on how aggressive or conservative you want to be
- How to compare different options from the available expiration dates and strike prices
- The pros and cons between writing an in-the-money option or an out-of-the-money option.
- How dividends can increase the risk of being assigned when writing a call option
- How to roll down a covered call option to maneuver your way out of a losing stock position.

I''ve learned all of this in the first 60 pages, and this book is over 1,000 pages. This book has paid for itself already with what I learned. Despite being jam packed with information, it is actually very approachable for anyone with the most basic knowledge of options trading.

I''m not kidding, buy this book!
155 people found this helpful
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Bryan Anderson
5.0 out of 5 starsVerified Purchase
WOW!!!
Reviewed in the United States on June 24, 2019
The process now days of describing a good book as "The Bible of %^%&" has in my opinion gotten way ahead of itself, so when I heard that being said of this book in other reviews I did not put much credit in it. As soon as I got the book in the mail however, I could tell... See more
The process now days of describing a good book as "The Bible of %^%&" has in my opinion gotten way ahead of itself, so when I heard that being said of this book in other reviews I did not put much credit in it. As soon as I got the book in the mail however, I could tell there may be something to it once the secretary bringing the box asked if I had bricks delivered!! The book is massive!! Obviously I have not gotten through it all yet, but already I can tell that this IS THE BIBLE OF OPTIONS. Just skimming through it so far I am amazed at the content. If there is any information or techniques on options that are not in this book I would be truly amazed. The author has done an amazing job on this, and I know it will be a valuable reference for years to come, and have a permanent spot on my desk for quick reference, until the next edition comes out that is!! If you are interested in learning, or expanding your knowledge of options, BUY THIS BOOK, YOU WILL NOT BE DISAPOINTED!!!!
53 people found this helpful
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Robert E Ashodian
5.0 out of 5 starsVerified Purchase
THE Text Book, Only If You Are Serious
Reviewed in the United States on October 26, 2020
This is the ultimate book on options and well worth the cost and effort to read it. Few people will ever want to read the entire book. Read the sections that match your option interest and investment strategy. An option position can be a safe and secure part of your... See more
This is the ultimate book on options and well worth the cost and effort to read it. Few people will ever want to read the entire book. Read the sections that match your option interest and investment strategy. An option position can be a safe and secure part of your investment portfolio management, adding income, protecting gains and avoiding heavy losses. At the same time an option position can be very risky with the possibility for unlimited losses. There''s lots of hype floating around on making big money trading options. Beware the hype. This is not that book.

This book has all the basics, read those sections. Go back and read them again. Explore the more complicated strategies more slowly. If you want to dig into real detail and the mathematics, it''s there if you want it. This book would be the obvious choice for a two semester sequence as part of an undergraduate or graduate fiance program. At the same time if the extent of your interest is limited to buying puts and calls, generating income through covered calls and maybe buying stocks at lower prices through short puts, this book should still be in your library. If you have enough money to feel comfortable with the more risky aspects of options (100% losses sometimes) you certainly can afford to buy this book.

In spite of the detail provided, each chapter is well written and not difficult to digest. It''s the totality of the subject and the wide variety of trading strategies, some of which are complex and should be undertaken only by those with discipline and self confidence.

I found this book a perfect companion to pursuing options trading through a free, on-line program offered by the Chicago Board of Options Exchange (CBOE). This is a program of on-line self training, with a certification test for each training module and a series of comprehensive tests for the basic, intermediate and advanced certification level I have completed most of the modules and concluded that many of the more complex strategies should be left to the real experts. Again, like this book, go with what you are comfortable with.
34 people found this helpful
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Doug Hale
5.0 out of 5 starsVerified Purchase
An exhaustive reference!
Reviewed in the United States on December 23, 2017
This book is a very complete reference about option trading. It probably has more information than most people ever wanted to know but you don''t read a book like this from front to back. That said, I would recommend reading the early introductory chapters but then... See more
This book is a very complete reference about option trading. It probably has more information than most people ever wanted to know but you don''t read a book like this from front to back. That said, I would recommend reading the early introductory chapters but then concentrating only on chapters that describe the trading technique that you are interested in (Calls, Puts, Vertical Spreads, etc). I especially found discussion about the risk of being assigned useful and it made me more comfortable about buying vertical spreads.
48 people found this helpful
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HelsinkiStationChief
5.0 out of 5 starsVerified Purchase
The 900 Page Gorilla
Reviewed in the United States on February 4, 2021
“Options as a Strategic Investment” is an achievement in options education. At 900+ pages, the book is as intimidating as it is heavy. But fear not because this book pays off huge. The scope of the book is mind-boggling and it has become the gold standard by... See more
“Options as a Strategic Investment” is an achievement in options education.

At 900+ pages, the book is as intimidating as it is heavy. But fear not because this book pays off huge. The scope of the book is mind-boggling and it has become the gold standard by which all other options texts are compared to.

You will get way more out of “Options as a Strategic Investment”, if you have a base familiarity with options first so I recommend this book as an intermediate text after you read a combination or all of these titles:

“Understanding Options” by Michael Sincere
“The Options Playbook” by Brian Overby
“The Rookies Guide to Options” by Mark Wolfinger
16 people found this helpful
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Daniel Beaulieu
5.0 out of 5 starsVerified Purchase
6 out of 5
Reviewed in the United States on October 6, 2018
Over the past two months I’ve purchased about a dozen books on trading, 2 of them being on options. This book is the most complete, professional and useful book by far.
30 people found this helpful
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BlakeB
5.0 out of 5 starsVerified Purchase
The book looks like a giant textbook but is jammed full of great ...
Reviewed in the United States on October 30, 2016
Buying this book was truly a homerun. The book looks like a giant textbook but is jammed full of great trading ideas. Despite the enormous size, surprisingly there is very little fluff. The author is now shy about giving his professional opinion on the effectiveness of... See more
Buying this book was truly a homerun. The book looks like a giant textbook but is jammed full of great trading ideas. Despite the enormous size, surprisingly there is very little fluff. The author is now shy about giving his professional opinion on the effectiveness of one approach versus another on a relative sense. I highly recommend it.
35 people found this helpful
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Wingman401
5.0 out of 5 starsVerified Purchase
Liek the other reviews...this is "Required" reading if you want to successfully trade Options.
Reviewed in the United States on March 18, 2018
I''ve had this book for a long time (the 2nd edition), but purchased another copy to give to a good friend and colleague. I won''t go into what the other reviews have said - you can read them for good content. Suffice it to say that this as well as McMillan''s other Options... See more
I''ve had this book for a long time (the 2nd edition), but purchased another copy to give to a good friend and colleague. I won''t go into what the other reviews have said - you can read them for good content. Suffice it to say that this as well as McMillan''s other Options book are "bibles" in the industry. This is a must for any trader''s library.
18 people found this helpful
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Top reviews from other countries

GD
4.0 out of 5 starsVerified Purchase
Good book to get the hang of option strategies but will not help you become successful trader
Reviewed in India on August 7, 2018
The book is voluminous. It has grown over the years. It contains lot of information and author''s wisdom, no doubt. I think one trying to trade options should buy this book and refer to it to get theoretical understanding of option strategies, P/L curves, nuances of each...See more
The book is voluminous. It has grown over the years. It contains lot of information and author''s wisdom, no doubt. I think one trying to trade options should buy this book and refer to it to get theoretical understanding of option strategies, P/L curves, nuances of each strategy etc. But the following are the issues I have seen with the book... 1. Although it has tons of strategies, the key strategies used by traders these days are missing...e.g. Iron Fly, Jade lizard, unbalanced strangle etc. 2. Overall emphasis is on defined risk strategies. That is fine in US market where you can dramatically reduce your margin requirement using defined risk strategies. But in India that does not work. Sebi in her infinite wisdom has decided to ask for same margin even if risk is lot lower in defined risk strategies. So for iron condor (defined risk strangle) and strangle (undefined risk) will need almost same margin. In India you have no advantage using defined risk strategies from return of capital standpoint. Keep this in mind while reading this book. Adapt to Indian market conditions. 3. If you are option seller like me then you may want to get hold of the book that focuses only on option selling. Because you get tired of reading only about option buying. Option buying is low probability trade. 4. The author had trashed straddle as high risk trade and covered it in few pages. If people are trading straddle ( or options are being traded at strikes same as CMP) then those traders are not idiot. There must be some risk-reward that encourages traders to trade those options. The actual quantitative research on straddles is eye opening. Look at actual data and then decide not because some book says straddle is to be avoided. 5. Important variable for the option seller is current IV with respect to past history. This is not highlighted in strategies. One reason is author has not focused on option writing. 6. No advice or suggestion on managing profits and trade. The option traders hardly wait to get last paisa or wait till the last day of epiry to take the profits or take the loss. The option trading is very volatile and it has its own best practices discovered by veteran option traders over the years. The author does not touch this important topic. 7. Although this book covers tons of strategies the professional option traders only trade few profitable ones. And few of those are missing in this book. In Indian context it is even more important. In Indian context you may rely on 3-4 strategies max. So you may want to be selective while reading his book because otherwise you may spend lot of time reading something which you may never use in life. Use this book as reference book only. Do not read from first page to last page. Looking at such weaknesses it is clear that, based on this book you cannot successfully trade the options. You need to learn from the practitioners the nuances of option trading like managing profits, stop-loss, entry criteria etc. But you can get the theoretical underpinning of different strategies though from this book. That is why I said it is good place to start your journey.
98 people found this helpful
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Customer 284328
4.0 out of 5 starsVerified Purchase
Classic but still not the format needed
Reviewed in the United Kingdom on September 8, 2016
Lot of theory. Missing pictures everywhere. Missing volatility and time effect in option charts. Missing best entry (exit) points as that matters Most, as it creates pnl. Theory is nice, but credit received at entry with higher credit at exist is a loss no matter the...See more
Lot of theory. Missing pictures everywhere. Missing volatility and time effect in option charts. Missing best entry (exit) points as that matters Most, as it creates pnl. Theory is nice, but credit received at entry with higher credit at exist is a loss no matter the strategy profile show its still in "profit zone" based on underlying price. For each strategy, you have commissions, huge bid ask spreads, volatility, decay or huge margin against you. In the end, you still have to be "right" like when purchasing stock. That''s why I completely miss the timing of trades, and stock charts. Although it''s from year 2012,it feels outdated when talking about big strike differences, skipping weeklies. So far read the parts about option strategies, will update.
2 people found this helpful
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ERICK
5.0 out of 5 starsVerified Purchase
Trading options , great book
Reviewed in the United Kingdom on June 17, 2020
Great book to read if you''re into investments
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Amazon Customer
5.0 out of 5 starsVerified Purchase
Downloaded Robinhood
Reviewed in Canada on October 15, 2019
I got this book so that one day I may eat sweet tendies with the autists of WSB.
15 people found this helpful
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anthony miller
5.0 out of 5 starsVerified Purchase
Five Stars
Reviewed in the United Kingdom on May 27, 2017
The option trader''s bible.
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wholesale Options as a sale Strategic new arrival Investment: Fifth Edition sale

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