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McMillan on Options [Hardcover]

Lawrence G. McMillan (Author)
3.7 out of 5 stars  See all reviews (14 customer reviews)
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Book Description

Publication Date: Oct 4 2004 | ISBN-10: 0471678759 | ISBN-13: 978-0471678755 | Edition: 2
Legendary trader Larry McMillan does it-again-offering his personal options strategies for consistently enhancing trading profits

Larry McMillan's name is virtually synonymous with options. This "Trader's Hall of Fame" recipient first shared his personal options strategies and techniques in the original McMillan on Options. Now, in a revised and Second Edition, this indispensable guide to the world of options addresses a myriad of new techniques and methods needed for profiting consistently in today's fast-paced investment arena. This thoroughly new Second Edition features updates in almost every chapter as well as enhanced coverage of many new and increasingly popular products. It also offers McMillan's personal philosophy on options, and reveals many of his previously unpublished personal insights. Readers will soon discover why Yale Hirsch of the Stock Trader's Almanac says, "McMillan is an options guru par excellence."

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Product Description

From the Publisher

Thousands of investors turn to Larry McMillan, leading finance writer and advisor, for expert advice on options. In this reader-friendly book, McMillan offers the latest information on the high-profit world of options trading. This up-to-date guide provides an information-hungry marketplace with in-depth coverage of pricing strategies, volatility and risk control, hedging techniques and option philosophy, as well as key insights into the predictive power of options, the versatile option and buying and selling. Real-world examples provide hands-on applications and clear illustrations to turn theory into practice. --This text refers to an out of print or unavailable edition of this title.

From the Inside Flap

The McMillan name is virtually synonymous with options. Over the years, this legendary trader’s popular and informative books, newsletters, and seminars have helped both new and seasoned investors use options to consistently enhance their trading profits.

McMillan first shared his personal options philosophies and techniques in the original McMillan on Options. Now, in this revised and expanded Second Edition, he reveals a number of new approaches for success in today’s fast-paced and ever-changing investment arena.

By exploring both the flexibility and predictive ability of options, this highly revised resource will show you the best new ways to apply options to everyday trading situations. You’ll quickly learn how to establish self-contained strategies, substitute options for other financial instruments, and protect your positions–whether in stock, index, or future options. More importantly though, you’ll receive a complete education in the exciting new products that are popular with investors, from single-stock futures and exchange-traded funds to LEAPS and the brand new volatility futures.

Backed by over 100 case studies, updated charts, and new examples, McMillan on Options, Second Edition:

  • Illustrates how a stock can be "pinned" to a striking price at expiration, what causes it, and when to expect it
  • Discusses put-call ratio charts and theory on individual stocks
  • Examines how to use volatility indices as an accurate market predictor
  • Adapts trading systems and strategies–such as intermarket spreads and seasonal trading systems–to the realities of a new market environment
  • Presents advanced approaches to options trading, including the concepts of expected return and Monte Carlo probability simulation
  • Offers guidance for those who need to find reliable options trading data and tools online

This timely Second Edition also expands on discussions regarding the NYSE as a faulty indicator, the history of market volatility, and the importance of buying and selling volatility.

Readers can now gain a unique insight into McMillan’s personal philosophy on options, and discover the innovative new tactics and strategies he applies to his own trading and analysis. Packed with hands-on examples and techniques that address hedging and volatility–plus fresh new pricing concepts–this comprehensive and updated work will help you understand and unleash the full power of options.

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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

Most helpful customer reviews
5.0 out of 5 stars Exercise your option and buy this book! Jun 22 2001
By Lance Mead
Format:Hardcover
As a ROP (registered Options principal) I feel I am uniquely qualified to review this book. First, understand that Larry McMillan is considered by many to be the best options mind on Wall Street (sorry Bernie Schaeffer). His knowledge of this less-than-logical derivative investment is the equivalent of Alan Greenspan’s knowledge of the economy.

My assessment: this is a good book. McMillan covers virtually every aspect of options trading: history, terms, strategies, volatility, theoretical approaches, etc. I am particularly impressed by Larry’s use of historical examples to bring complicated strategies down to basic levels.

This is not to say this is an easy read. An easy investment read is Peter Lynch’s "One Up on Wall Street". McMillan on Options is more like a doctor’s guide to brain surgery: the pictures are cool but the content can be complicated. Topics covered include spreads (verts, calendar, diagonal), straddles, combos, the greeks (delta, rho, theta, vega and gamma) and strategies that employ these. If volatility is your life, and you hold a hefty position in Rolaids futures, then this book is for you. I have not read a more comprehensive, useable options book. I believe all options traders and speculators should own McMillan on Options.

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4.0 out of 5 stars Good Followup to OAASI Mar 4 2001
By tony defrancisco
Format:Hardcover
My first McMillan book was Options as a Strategic Investment. New investors should read that book first then move on to this one.This book goes beyond the theory and actually gets down to some real useful strategies. If you are trading options or plan to, this book is a must read.I also recommend The Option Advisor by Bernie Schaeffer and Wall Street Money Machine I, II and III by Wade Cook.
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5.0 out of 5 stars Don't Trade Options Until You Read This Book July 9 2000
By Bennett McDowell
Format:Hardcover
As founder of "Traderscoach.com" I thought this book provided the reader with a realistic view of trading options.

You will learn alot about options and the proper approach to trading that is necessary to be a consistant winner.

McMillion writes this book in a no-nonsense realistic style. Pay attention to what he says.

Fell FREE to visit our Web-site "Traderscoach.com" which deals with Trading Psycology as well as other material realted to trading.

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Most recent customer reviews
4.0 out of 5 stars Pays for itself after one trade.
Two things make this book very educational and useful: 1.) Several strategies and ways of using options that I never thought of. Read more
Published on Jan 7 2000 by John Dennison
1.0 out of 5 stars Boring Book
This book put me to sleep. The book is far off the mark for practical application and is just all theory.

Larry manages $100k. Read more

Published on Jan 6 2000
5.0 out of 5 stars One of the two must read on options.
I can't believe there are people out there that want to make money but don't want to do their homework. Read more
Published on Oct 25 1999
5.0 out of 5 stars Intermediate to Expert text on Options
Having never traded options before but having an engineering background, I found the text as dry as my college engineering textbooks, but as informative as ever. Read more
Published on July 6 1999
3.0 out of 5 stars Professor give me a break!
Ever feel like you are in a college class and the professor talks so mathematical it puts you to sleep? Read more
Published on Jun 23 1999
4.0 out of 5 stars A must book for every options on futures trader.
This book explains virtually every type of options trades possible in today's markets. Just like any other endeavour worth doing, do your homework and learn from the best. Read more
Published on Jan 22 1999
5.0 out of 5 stars Great book for option traders !
I've read a lot of books on options, and this one is worth every penny ! Easy to read, for experienced option traders, and very useful.
Published on Nov 20 1998
1.0 out of 5 stars McMillan can't trade his way out of a paper bag
This is all theory and no application. McMillan's broker states that he loses money and makes money from his books. Show us your trades and not the theory.
Published on Nov 5 1998
4.0 out of 5 stars A lot of valuable information on practical options trading
This book is quite easy to follow if one pays sufficient attention. The math content that is present in most books on options is kept to a minimum in this volume. Read more
Published on Oct 15 1998
1.0 out of 5 stars Impossible to follow
If you want to have a bookend this is the book to buy. Very difficult to understand. Not the book for the beginner. Leave it for the maths professors to read

Yuck

Published on Sep 24 1998
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