Your Options Handbook: The Practical Reference and Strategy Guide to Trading Options: 470 Hardcover – 27 April 2011
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- Options as a Strategic Investment: Fifth EditionLawrence G McMillanHardcover
Product details
- Language : English
- Hardcover : 432 pages
- ISBN-10 : 0470603623
- ISBN-13 : 978-0470603628
- Best Sellers Rank: 24,368 in Books (See Top 100 in Books)
- Customer reviews:
Product description
From the Inside Flap
"With the techniques and strategies contained within these pages, you have everything you need to beat any hedge fund manager." --JARED LEVY
Options offer investors a relatively safe, inexpensive way to invest and hedge risk. Despite the rarefied jargon involved--such as "backwardation," "pin risk," and "volatility smile"--options trading is also much simpler than most people think--once you've mastered the basics.
Enter Your Options Handbook--your complete, A-to-Z guide to understanding, entering, and succeeding in the options market. Options wunderkind Jared Levy patiently walks you through the market from a professional's perspective. He introduces you to the market mechanics and the players, explains how options are priced, and schools you in the essentials of trading psychology.
His simple, plain-English explanations of everything from calls and puts to valuation and spreads significantly shorten the learning curve typically associated with options trading. And his step-by-step presentations, illustrated with helpful real-world examples, make major trading techniques and methodologies--as well as the complex mathematics informing them--easy to digest, even for the most math-averse reader.
Your Options Handbook provides a framework for developing an approach to options trading tailored to your unique goals and personality. Levy helps you to identify what kind of trader you are, in terms of tolerance for risk, analytical versus intuitive thinking style, long- and short-term goals, budget, and other key factors. Then, in a series of chapters devoted to specific trading strategies, he helps you design an approach suited to your profile.
From the Back Cover
"With the techniques and strategies contained within these pages, you have everything you need to beat any hedge fund manager." -- JARED LEVY
Options offer investors a relatively safe, inexpensive way to invest and hedge risk. Despite the rarefied jargon involved--such as "backwardation," "pin risk," and "volatility smile"--options trading is also much simpler than most people think--once you've mastered the basics.
Enter Your Options Handbook--your complete, A-to-Z guide to understanding, entering, and succeeding in the options market. Options wunderkind Jared Levy patiently walks you through the market from a professional's perspective. He introduces you to the market mechanics and the players, explains how options are priced, and schools you in the essentials of trading psychology.
His simple, plain-English explanations of everything from calls and puts to valuation and spreads significantly shorten the learning curve typically associated with options trading. And his step-by-step presentations, illustrated with helpful real-world examples, make major trading techniques and methodologies--as well as the complex mathematics informing them--easy to digest, even for the most math-averse reader.
Your Options Handbook provides a framework for developing an approach to options trading tailored to your unique goals and personality. Levy helps you to identify what kind of trader you are, in terms of tolerance for risk, analytical versus intuitive thinking style, long- and short-term goals, budget, and other key factors. Then, in a series of chapters devoted to specific trading strategies, he helps you design an approach suited to your profile.
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Most helpful customer reviews on Amazon.com

First there is a long (very good) section on history of options, markets, indicators, and analysis. This is good material but no explanation of the mechanisms of options. Some of it is hard to understand if you don't already know the mechanics and terminology of options.
The explanation of greeks comes before you really have a sound basis of understanding of how options actually work.
In other words, it is written from the point of view of an expert options trader with great advice to offer but who has not taken into account the knowledge level or lack of sophistication of his audience. For example, if you are not completely conversant in the terminology around buying puts and calls, vs selling puts and calls then you definitely won't understand when he starts using the "short" and "long" lingo early in the book.
Not quite as bad as Finnigan's Wake, but you probably have to read the book two or three times if this is the only options book you have.
At the same time, all the material is good, and the book is worth having.
I recommend you get a different starter book. My brokerage account has quite a bit of training material and recorded seminars, and that helped me a lot, but I hate it because watching videos is too time consuming. I am still searching for that starter book.
This one will probably be a go-to book for me eventually, but at the moment, much of it is over my head.


The only reason I gave this 4 stars is because some of the graphs are either very small or too fuzzy to read. I believe that would be more of a publishing issue, but you may be affected by it.
I was tempted to buy Larry MacMillan's latest book, but the reviews indicated it had 1,000 pages. This one is significantly less with only 400. Sometimes lengthy books are just overly verbose and I personally don't have time to read 1,000 pages.
Fast Forward 2 weeks: I finished the book and I am still happy with it. I really like the chapters in the back of the book which cover 1)Turning your Trading into a Business and 2)Psychological Capital(emotions). I plan to sit down and update my Stock Trading Selection Guide with this new psych information. Since this Guide has a section for evaluation on exiting the trade, I can use the psych info to evaluate whether my emotions are getting me out of a trade too early or keeping me in it too long.
My book now has sticky colored flags on the pages to help me quickly find the spreads I plan on using regularly. I can also see the risks/rewards that can be achieved if I need to repair one type of spread (say a Bull Put Spread) and changing it to another (i.e. butterfly, iron butterfly, condor, or iron condor).

Not this one. Very good examples that a person like me (from a non-trading world) can have the opportunity to understand how to trade options and take risks.
I can tell that the author spent a lot of time making sure that he could reach out to whomever picked up his book. I enjoyed it very much. Other friends whom I have also recommended this book to have now become active in options trading and are making some money. A read you will not regret.
