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9 of 9 people found the following review helpful
5.0 out of 5 stars The Best Reference Book on Options
I won't say I've read every book on Options out there, but I've looked at a range, from the very complex, full of calculus equations and whatnot, to the very simple, and to my mind, this is the best out there. First of all, it is very thorough and well organized. It goes step by step through virtually every option strategy, analyzing the various payoffs, follow-up...
Published on Dec 21 2003

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2 of 3 people found the following review helpful
2.0 out of 5 stars Not Worth the Praise!
Before I bought the book I've read all your reviews for a reference. I was actually scarced by the sheer size. Hope that the content will be OK. But only to be disappointed. If you want an academic theory of option, you need more mathematical formulation. And if you are a trader and you need a practical tutorial, you'd better find other books. I strongly recommended the...
Published on Nov. 12 2000 by Charles Chan


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9 of 9 people found the following review helpful
5.0 out of 5 stars The Best Reference Book on Options, Dec 21 2003
By A Customer
This review is from: Options as a Strategic Investment (Hardcover)
I won't say I've read every book on Options out there, but I've looked at a range, from the very complex, full of calculus equations and whatnot, to the very simple, and to my mind, this is the best out there. First of all, it is very thorough and well organized. It goes step by step through virtually every option strategy, analyzing the various payoffs, follow-up actions if the market goes against you, etc. It is written clearly and concisely, with lots of examples. One reviewer says it's too complicated. If you think this book is too complicated, then you simply should not be trading options. Period. Another critic says there are too many examples. Yes, there are a lot of examples, and if you find you understand the concepts the author describes just fine without the example, then you'll probably just skip them. However, if there is something you don't quite get, the examples are a real help. I think some reviewers were hoping for a book that would tell them how to get rich in a few months trading options. Well, good luck, and let me know when you find it. But for a terrific reference that every serious amateur will go back to time and again, then this book should be the first on your Options bookshelf.
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6 of 6 people found the following review helpful
4.0 out of 5 stars Paperback mistake?, Sept. 14 2003
This review is from: Options as a Strategic Investment (Hardcover)
In the description of the book, I think an error was placed saying " (Paperback - January 23, 2003) ". Check all the books by Mcmillan, and you'll see two version of Option as Strategic Investment, one is the 'book', the other, cheaper, is the workbook.
The 'book' is about 2" thick, quite heavy on the arms! The contents are precise. For each strategies, e.g. long/short call/put, spreads, ect..., Mcmillan explains their definitions, their reasons, their advantages, their pitfalls. This is purely a 'theory book'. If you have an opinion on the market (bullish/bearish/neutral), and want to see different spread strategies possible that could apply to your trading, this is a great book to read. If you want to find out what the floor traders do with your order, are they fair, or try to skim off your order, or try to manipulate the price..., you will not find it here.
p.s.: (I gave 4 stars because one should never give 5 :p )
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3 of 3 people found the following review helpful
5.0 out of 5 stars Anything you want to know about Options is here, Sept. 12 2003
By 
ShahinK (Los Angeles, CA USA) - See all my reviews
This review is from: Options as a Strategic Investment (Hardcover)
This is the most comprehensive book written on options and its strategies. There is nothing missing in here. The book covers all the strategies and each includes all the calculations needed to figure out what you have at risk. After reading this book I was able to calculate margin requirements, profit, loss, and risk.
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6 of 7 people found the following review helpful
5.0 out of 5 stars This is THE book., July 15 2002
By 
This review is from: Options as a Strategic Investment (Hardcover)
Try as I might, I cannot understand the negative reviews here. This is THE book on options. McMillan writes clearly and well. There is nothing glib here -- no promises of great wealth, no hype, no pandering to fools. What is here is solid information presented well and thoroughly.
A criticism that came up more than once (copy cat reviews?) is that the book doesn't show practical stuff. What! It provides all the information that any reasonably intelligent person needs to UNDERSTAND exactly what the strategies are and when to apply them. To ask for more is to ask for easy and oversimplified answers that will part you from your money.
The book is thick. True. You don't need all that is in it. True. The book is frightening or dull or not as useful as (gimme a break!) Wade Cook!!!
Hey! It's a text book, not a novel. Wake up! You can use it to find what YOU want to know.
There is more useful information in this book than in any hustler's high-priced and hype-filled seminar. It's all you need and it's currently selling for less $. Don't get scared off by the negative reviews or you'll miss out on the most respected and best of all the many books written on options.
If you're not willing to spend $ and a little effort to learn about options, you're not likely to profit from them. Buy the book. Then, sit down and read in it to find the definitive answers to your option questions. It simply doesn't get any more accurate, any clearer, or any better.
(Oh yes, one or two reviewers suggested that the book is out of date.
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5.0 out of 5 stars This is a Money Maker, Aug. 3 2008
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This review is from: Options as a Strategic Investment (Hardcover)
I am only 100 pages into this book and it has already made me money. (My review is based on the hardcover not the workbook) I have been investing my own retirement funds for years and have dabbled in options from time to time.

I was focused on one strategy and didn't think of all the others. Mr. McMillan provides good examples of all the strategies and refers back to previous charts to reinforce his points. My options trading is now more focused because of the discussion on the discipline and psychology of trading.

At first I was hesitant about paying $50 for a book but it made me 8 times that much in one day. I would recommend this book to anyone who already knows what an option is. While the book starts with the basics it quickly moves on to strategies. Mr. McMillan I may be retiring a bit earlier than I thought. Great book!!!!
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5.0 out of 5 stars Definitely a book to have in your trading library, Feb. 26 2014
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This review is from: Options as a Strategic Investment (Hardcover)
Any serious option trader should have this book and use it as a reference in the matter. I have read a lot of them but this one has basic, step by step explanations of the complete strategies, from a theoretical point of view. Period. It's not the best practical guide (ref. study guide 4th edition, or Option greeks by Dan Passarelli) but a must have in my library.
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2 of 3 people found the following review helpful
2.0 out of 5 stars Not Worth the Praise!, Nov. 12 2000
This review is from: Options as a Strategic Investment (Hardcover)
Before I bought the book I've read all your reviews for a reference. I was actually scarced by the sheer size. Hope that the content will be OK. But only to be disappointed. If you want an academic theory of option, you need more mathematical formulation. And if you are a trader and you need a practical tutorial, you'd better find other books. I strongly recommended the book written of DeMark, Thomas DeMark on Option Day Trading. Is is clear and useful.
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Options as a Strategic Investment
Options as a Strategic Investment by Lawrence G. McMillan (Hardcover - Jan. 23 2003)
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