Options as a Strategic Investment
- Downloads：1266
- Type：Epub+TxT+PDF+Mobi
- Create Date：2023-03-14 07:01:34
- Update Date：2025-09-06
- Status：finish
- Author：Lawrence G. McMillan
- ISBN：0735204659
- Environment：PC/Android/iPhone/iPad/Kindle
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Summary
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。
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。
Reviews
Rahul Kumar
，
Good book for learning about options
Niranjan
，
Partially read this book ， fast read most of the chapters 。 Got some good ideas out of it。
Shahar
，
Repetetive
Jack Zuber
，
An informative resource。 Took what I needed and skipped that which did not pertain to me。A great beginner/intermediate read but also a resource that I will likely reference in the future。
Gangadharan
，
Very good book。 Now I've good idea about options Very good book。 Now I've good idea about options 。。。more
Tony Samuel
，
This book is incredibly thorough on the topic of options。 A beginner definitely should watch relevant youtube videos to become more acclimated with the subject beforehand。 In this edition he added a chapter on volatility derivatives and it really helps what makes this 2012 edition still highly relevant for the new type of investing。
Shravan Kumar
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One of the best books on the subject。 Excellent explanations and I am going to go back to it again and again
Oleksandr Gerasymovych
，
The book helped me to understand better binary options。
Manoj
，
Awesome book for option traders
Joe Burke
，
This review has been hidden because it contains spoilers。 To view it， click here。 The bible of options investing。
Kirk Bozeman
，
A very helpful book on options strategy mechanics， though I don't necessarily agree with many of the author's conclusions on trading them。 He consistently takes a very negative view of the risk level of certain strategies and seems to advise against them， while not addressing the positive relationship of risk level to high probability of success。 This is a very good book on how classic options strategies are constructed and work themselves out in the movements of the market， but you will have to A very helpful book on options strategy mechanics， though I don't necessarily agree with many of the author's conclusions on trading them。 He consistently takes a very negative view of the risk level of certain strategies and seems to advise against them， while not addressing the positive relationship of risk level to high probability of success。 This is a very good book on how classic options strategies are constructed and work themselves out in the movements of the market， but you will have to look elsewhere for good advice on implementing these techniques。 。。。more
Matthew
，
Probably good to have as a reference text since its supposed to be the Options Bible but I can't say I got too much insight out of this。 Admittedly I skipped sizable chunks of it， such as the advanced mathematical strategies which aren't relevant to me at this stage。 My main beef is with the organisation of the book: it first runs through various call strategies， quite thoroughly with respect to discussing delta and a bit on theta， but not really touching on the multi-dimensionality of vega/gamm Probably good to have as a reference text since its supposed to be the Options Bible but I can't say I got too much insight out of this。 Admittedly I skipped sizable chunks of it， such as the advanced mathematical strategies which aren't relevant to me at this stage。 My main beef is with the organisation of the book: it first runs through various call strategies， quite thoroughly with respect to discussing delta and a bit on theta， but not really touching on the multi-dimensionality of vega/gamma。 Then， separately， he runs through put strategies -- but many of these are structurally similar to the call strategies earlier discussed， so why not put them together rather than having all these extra pages in a 1000 pager？ Then， right at the end， he discusses volatility。 Fine， but volatility should be an integral part of the discussion of options right from the beginning， and given that he discusses trade ideas in case studies all the way through， volatility should be a key part of that discussion from the beginning， given how much option values depend on IV。 In short I think the text could be much tighter， better integrated and practically written。 。。。more
John Alsdorf
，
A classic for anybody who might want to consider using Puts or Calls （or， more importantly， some of the myriad combinations thereof） as part of their investing strategies。
David
，
This describes a fundamental component of investments and financial management - the basis of "hedging" a stock position。 Even well considered stock positions may be wrong， but with the right backstop an investor may still make a profit。I consider it an essential companion to "Security Analysis" by Graham and Dodd。 This describes a fundamental component of investments and financial management - the basis of "hedging" a stock position。 Even well considered stock positions may be wrong， but with the right backstop an investor may still make a profit。I consider it an essential companion to "Security Analysis" by Graham and Dodd。 。。。more
David
，
Scary stuff 。。。
Austin
，
This book and that of Natenberg （Option Volatility & Pricing Advanced Trading Strategies and Techniques） are the two best qualitative books on options and options strategies available。 Whereas Natenberg focuses a little bit more on the volatility trader， McMillan targets the trader with a complex directional view of the market。 Thorough discussions of the characteristics of standard options spreads are discussed， including possible adjustments to the positions as conditions change。 More than any This book and that of Natenberg （Option Volatility & Pricing Advanced Trading Strategies and Techniques） are the two best qualitative books on options and options strategies available。 Whereas Natenberg focuses a little bit more on the volatility trader， McMillan targets the trader with a complex directional view of the market。 Thorough discussions of the characteristics of standard options spreads are discussed， including possible adjustments to the positions as conditions change。 More than anything， I have a soft spot for this book because reading it was the first time I realized that there is a way to profit from any possible view of the market that you might have （multiplying many times the myriad of ways in which the just-clever-enough-to-be-dangerous young man can lose money）。 In many ways， this book （and Phil Town's Rule No。1 The Simple Strategy for Successful Investing in Only 15 Minutes a Week！， I'm embarrassed to admit） are where it all started for me。。。 。。。more
Mikel C。
，
The essential guide and reference book for anyone planning on trading options。
Dave
，
I have not read this book in its entirety but use it as a reference。
Andy Hendriawan
，
still trying to understand， but it's a good opportunity for investors to achieve financial freedom。。 still trying to understand， but it's a good opportunity for investors to achieve financial freedom。。 。。。more
tpg0
，
As an AI language model， I cannot review nor give feedback on books as I do not have the capacity to read and comprehend their content like a human does。 However， "Options as a Strategic Investment" is a highly regarded and influential book in the world of options trading。 It was first published in 1973 and written by Lawrence G。 McMillan， who is a renowned author in the options trading industry。 The book covers topics such as the basics of options， different types of options， option strategies， volatility trading， and options valuation。 It is considered an essential read for those who want to fully understand options trading and use them as a strategic tool for their investment portfolio。
tpg1
，
As an AI language model， I don't have the ability to read or form opinions on books。 However， "Options as a Strategic Investment" by Lawrence G。 McMillan is a highly regarded book among investors and traders as it provides a comprehensive guide to understanding the intricacies of options trading。 The book covers everything from basic option terminology to complex trading strategies and is suitable for both novice and experienced traders。 It's widely considered a must-read for anyone interested in the world of options trading。
tpg2
，
As an AI language model， I do not have any personal opinions or preferences。 However， "Options as a Strategic Investment" is considered a classic and comprehensive guide to the world of options trading。 Written by Lawrence G。 McMillan， it covers everything from basic options concepts to advanced strategies and has been updated multiple times since its initial publication in 1973。 It is highly recommended for both novice and experienced options traders。
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