Options as a Strategic Investment: Fifth Edition

Title says it all. Haven’t finished reading it yet and so far so good 10/10

Great book to read if you're into investments

The option trader's bible.

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 Although it's from year 2012,it feels outdated when talking about big strike differences, skipping weeklies.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.

This book is universally hailed as the "bible of options trading." This comprehensive reference is absolutely indispensable for anyone serious about mastering the options market. It covers all modern strategies and market innovations, from basic calls and puts to complex volatility derivatives. It provides unparalleled depth, explaining the mechanics, ideal market conditions, and risks of every strategy. Simply put, this book is the definitive, essential resource for turning theoretical knowledge into strategic, profitable option investing.

Thick book, very informative and easy to read.

オプション取引のバイブルとして1冊は持っておきたい本。 オプション取引の中級レベルから上級者レベルが対象。 「現物オプション」だけでなく「先物オプション」まで網羅されている。 「先物オプション」について書かれた書籍は稀有なので重宝すべき。 オプション取引では、その構造から「買い」よりも「売り」に優位性があると様々な書籍で書かれているが、その常識が覆される内容が満載。様々なオプション戦略の具体例が示されていて、各ポジションのメリット＆ディメリットが理解できる。また、相場変動によるポジション調整のフォローアップまで詳細に解説されている。

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.

If you are serious about learning the topic then this is your text book.