After spending quite a bit of money on books trying to educate myself about the "dark arts" of options I was fortunate enough to get my hands on what I can only describe as the definitive work for this esoteric financial vehicle. Unlike many financial author "gurus", Bill Johnson is someone who is a real trader first, and author second. . If you ever get a chance to see him do a live seminar, they are a must see. My understanding is that he originally trained the Schwab people about options. Simply put, this is the ONLY BOOK you may ever need regarding this subject so purchase it first. It is very clearly written and easy to understand (which would put it head and shoulders above the others on that reason alone) You WILL come away with a clear understanding of the subject and will know much more than your broker does about this subject by the time you finish.
Great Options book for beginners or experienced traders
Published by Thriftbooks.com User , 19 years ago
This book is the bible of Options trading. It goes over everything from the greeks to advance options strategies and even market maker rules that you can take advantage of. One of the best books you could ever invest in. The workbook is really helpful because you need to be actively participating while learning such things. I use to be lost when I saw a options table but now it's just second nature. It teaches you how to make money in bear bull and choppy markets. And it clearly defines the risk of each trade and other synthetics. Did you know that a covered call is the same as a short put. That alone made me rethink, the strategies my broker tried to sucker me into. He tried to dupe me into thinking it's safer when it isn't, might as well just do the short put to save on commissions. Once again this book is the Bible of options trading.
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