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(Hardcover - 4TH)
The market in listed options and nonequity option products provides investors and traders with a wealth of new, strategic opportunities for managing their investments. This updated and revised Third Edition of the bestselling options book of all time gives you the latest market-tested tools for maximizing the earnings potential of your portfolio while reducing downside risk--no matter how the market is performing.
Inside this expanded edition are scores of proven techniques and business-tested tactics for investing many of the innovative new options products available. For example, you'll 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 your 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
-and much more
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 your portfolio and improve your return...and the implications of the tax laws for option writers, including allowable long-term gains and losses.
In addition, detailed examples, exhibits, and checklists show you the power of each strategy under carefully described market conditions.
This blockbuster bestseller--more than 100,000 copies sold--is considered to be the bible of options trading. Now completely revised and updated to encompass all the latest options trading vehicles, it supplies traders and serious investors with an abundance of new, strategic opportunities for managing their investments. Examples make clear the power of each strategy in carefully defined market condition.
The new edition is revised to represent the latest trading vehicles and applications, including coverage of long-term equity anticipation securities LEAPs, preferred equity redemption cumulative stocks PERCs, neutral trading, futures options, warrants, and standard portfolio analysis of risk SPAN. The idea, of course, is to maximize earnings and reduce riskno matter how the market is performing. Strategy techniques and examples show how to do it.
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July 19, 2009: This book is great for both its educational value and as a reference. As a stock options beginner I have found it very helpful in both respects. The professional I consulted prior to purchase mentioned that he and his colleagues have it on their desks, but generally do not lend it due to its value at a moment's notice.
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September 17, 2000: I got my introduction to equities options on the CBOE floor in 1986. McMillan's book (the original hard cover) was required reading for every newcomer on the floor. This updated version is the best reference work you will find on options; if you want investing strategies get his other book, but this is still the one and only 'bible'