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Study Guide for Options as a Strategic Investment 5th Edition Paperback – Illustrated, August 7, 2012

4.4 out of 5 stars 331 ratings

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This Study Guide for the Fifth Edition of Options as a Strategic Investment will help you maximize your understanding of options, thereby increasing your profits.
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Editorial Reviews

About the Author

Lawrence G. McMillan is a professional trader and the author of the bestselling Options as a Strategic Investment. He appears regularly on CNBC and Bloomberg TV, and is the recipient of the prestigious Sullivan Award due to his contribution to the growth and integrity of the US options markets. He is founder and president of McMillan Analysis Corporation.

Product details

  • ASIN ‏ : ‎ 0735204640
  • Publisher ‏ : ‎ Prentice Hall Press; Study Guide edition (August 7, 2012)
  • Language ‏ : ‎ English
  • Paperback ‏ : ‎ 176 pages
  • ISBN-10 ‏ : ‎ 9780735204645
  • ISBN-13 ‏ : ‎ 978-0735204645
  • Item Weight ‏ : ‎ 12.6 ounces
  • Dimensions ‏ : ‎ 7.35 x 0.45 x 9.15 inches
  • Customer Reviews:
    4.4 out of 5 stars 331 ratings

About the author

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Lawrence G. McMillan
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Lawrence G. McMillan is the author of Options As a Strategic Investment, the best-selling work on stock and index options strategies, which has sold over 200,000 copies. The fourth edition of this work was released in March, 2002. In addition, he has written two other books, McMillan On Options (2nd edition, 2004) and Profit With Options and co-authored another, New Insights On Covered Call Writing. He currently authors a unique daily advisory service – Daily Volume Alerts – which selects short-term stock trades by looking for unusual increases in equity option volume. He also edits and publishes "The Option Strategist", a derivative products newsletter covering equity, index, and futures options, as well as "The Daily Strategist", covering much the same strategies but on a daily basis. In addition, he trades his own account actively, and he manages option-oriented accounts for certain individuals. In these capacities, he is the President of McMillan Analysis Corporation, which he founded in 1991.

Mr. McMillan is the recipient of the Sullivan Award for 2011, awarded by the Options Industry Council in recognition of his contributions to the Options Industry.

He has spoken on option strategies at many seminars and colloquiums in the United States, Canada, and Europe. He also writes frequently and is quoted in publications such as Barron’s, Technical Analysis of Stocks and Commodities, Data Broadcasting’s “Exchange” magazine, Futures Magazine, theStreet.com, and Active Trader Magazine.

Mr. McMillan received the prestigious Joseph W. Sullivan Award in 2011, recognition of outstanding contributions to the U.S. options industry.

Prior to founding his own firm, Mr. McMillan was a proprietary trader at two major brokerage firms. He began his Wall Street career as the retail option strategist at Thomson McKinnon Securities, Inc., from 1976 to 1980, and then traded the firm's proprietary account beginning in 1980. From 1982 to 1989, he was a Senior Vice President in charge of the Equity Arbitrage Department. Following that, he was in charge of the Proprietary Option Trading Department at Prudential-Bache Securities in 1989-90. In those positions, he traded the firm's own money – primarily in advanced option strategies and risk arbitrage at Thomson McKinnon, and primarily in convertible Euro-bonds and Japanese warrant arbitrage at Prudential.

He initially worked for Bell Telephone Laboratories in Whippany, NJ, from 1972 to 1976. He also published a weekly newsletter, entitled "Hedged Option Strategies" from 1974 to 1976.

Mr. McMillan holds a B.S. degree in mathematics from Purdue University (1968) and an M.S. in applied mathematics and computer science from the University of Colorado (1972).

Contact Information

McMillan Analysis Corp., PO Box 1323, Morristown, NJ 07962

800-724-1817

Fax: 973-328-1303

email: info@optionstrategist.com

web site: www.optionstrategist.com

Customer reviews

4.4 out of 5 stars
331 global ratings

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Customers say

Customers find the study guide comprehensive, with one mentioning it explains concepts in detail and covers everything about options. They consider it worth the price.

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12 customers mention "Content"9 positive3 negative

Customers find the content of the study guide comprehensive, with one customer noting it contains all the information needed for options trading, while another mentions it explains concepts in detail.

"For me it's useful because it prompts me to do the reading...." Read more

"...The book starts with the simple and evolves to the highly complex, never assuming anything on the part of the reader, explaining every concept in..." Read more

"...BUT... that's a good thing! This book covers EVERYTHING... I recommend the workbook if you are using this book to learn the detailed ropes of..." Read more

"It is clearly that this book contains all the informations for options trading except technical analysis...." Read more

3 customers mention "Value for money"3 positive0 negative

Customers find the study guide to be an amazing value.

"...I think it helps reinforce the subject. Worth it." Read more

"Amazing," Read more

"Good value...." Read more

The authoritative manual. There really is no other.
5 out of 5 stars
The authoritative manual. There really is no other.
In an era when our Facebook feeds and radio streams are cluttered with one options trick, trainer or "foolproof" system, McMillan's book offers a complete education on options markets. He shows the reader not only "How" the markets work as they do, but the "Why" as well. The book starts with the simple and evolves to the highly complex, never assuming anything on the part of the reader, explaining every concept in detail. If you want to trade options, buy the book. Pro tip: Buy the workbook, too.
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Top reviews from the United States

  • Reviewed in the United States on September 25, 2024
    For me it's useful because it prompts me to do the reading. I tend to jump around chapters and skim, but using the study guide I find myself going back and rereading certain chapters. I think it helps reinforce the subject. Worth it.
    5 people found this helpful
    Report
  • Reviewed in the United States on October 27, 2022
    In an era when our Facebook feeds and radio streams are cluttered with one options trick, trainer or "foolproof" system, McMillan's book offers a complete education on options markets. He shows the reader not only "How" the markets work as they do, but the "Why" as well. The book starts with the simple and evolves to the highly complex, never assuming anything on the part of the reader, explaining every concept in detail. If you want to trade options, buy the book. Pro tip: Buy the workbook, too.
    Customer image
    5.0 out of 5 stars
    The authoritative manual. There really is no other.

    Reviewed in the United States on October 27, 2022
    In an era when our Facebook feeds and radio streams are cluttered with one options trick, trainer or "foolproof" system, McMillan's book offers a complete education on options markets. He shows the reader not only "How" the markets work as they do, but the "Why" as well. The book starts with the simple and evolves to the highly complex, never assuming anything on the part of the reader, explaining every concept in detail. If you want to trade options, buy the book. Pro tip: Buy the workbook, too.
    Images in this review
    Customer image
    15 people found this helpful
    Report
  • Reviewed in the United States on February 10, 2014
    Simple review... not so simple book. BUT... that's a good thing! This book covers EVERYTHING... I recommend the workbook if you are using this book to learn the detailed ropes of options.
    21 people found this helpful
    Report
  • Reviewed in the United States on October 30, 2016
    It is clearly that this book contains all the informations for options trading except technical analysis. The first times of my options trading ,I read this book and ...I couldn't finjsh it in ine months. i end up go in to the options seminars and then come again to read and I understand it .

    I think it is not for a newbie at all buy... the newbie should have it , atleast for refences when you have a questions about options , you could come back to solve it .
    14 people found this helpful
    Report
  • Reviewed in the United States on May 8, 2017
    Covers everything about Options, even a lot stuff you did not want to know but need to know. At around One Thousand pages this is no lite read and should not be taken as such . If you are wanting to trade Options and be successful then this book is must read period. The dust jacket on this book is the biggest pain in the ---- ever throw it away.
    21 people found this helpful
    Report
  • Reviewed in the United States on February 24, 2022
    I'm an experienced options trader, but also certain I'll learn a lot from this book. The 50-page chapter on covered call writing alone really opened my eyes. The study guide is a great aid (as of chapter 2). However, I found an error in the answer key. On page 14, G should be 3 and H should be 8. I reported this to the publisher but also thought I'd mention it here for other buyers.
    Customer image
    4.0 out of 5 stars
    Helps reinforce learning

    Reviewed in the United States on February 24, 2022
    I'm an experienced options trader, but also certain I'll learn a lot from this book. The 50-page chapter on covered call writing alone really opened my eyes. The study guide is a great aid (as of chapter 2). However, I found an error in the answer key. On page 14, G should be 3 and H should be 8. I reported this to the publisher but also thought I'd mention it here for other buyers.
    Images in this review
    Customer image
    35 people found this helpful
    Report
  • Reviewed in the United States on February 6, 2013
    This book is only question and answers. There is not any text to read even though it tells you to read the lesson. How can you answer the questions without any lesson to study. You would have to know everything about option trading already.
    6 people found this helpful
    Report
  • Reviewed in the United States on May 7, 2024
    I'm trying to learn about options trading and I spent way too much money on this, especially since it's useless without the actual material.
    The quality of the book seems cheap. The paper is that brown stuff that feels fuzzy and tears easily. The pages are wavey, like it was stored in a humid environment or something.

Top reviews from other countries

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  • R Gali
    5.0 out of 5 stars Llegó en buen tiempo y buen estado
    Reviewed in Mexico on February 14, 2025
    Buen libro
    Report
  • antonio palumbo
    1.0 out of 5 stars Bad Amazon transparency
    Reviewed in Germany on September 28, 2020
    It is not clear that this is not a text is just a series of exercises to test the level of knowledge of the real book .. that Amazon does not sell because finished .. bad transparency by Amazon communication
  • Bopete
    5.0 out of 5 stars A valuable aid when reading the book
    Reviewed in Canada on September 3, 2018
    The book is very thorough and detailed. The study guide helps in focusing on the most important topics and confirming you understand them.
  • bane
    1.0 out of 5 stars Don’t buy
    Reviewed in the United Arab Emirates on March 10, 2021
    Don’t buy it’s a work Book,they are selling at text price
  • Josep L.
    4.0 out of 5 stars Libro de tests cortos para comprobar que lo has entendido
    Reviewed in Spain on March 23, 2025
    Ojo: es un libro de tests para comprobar que has entendido el libro homónimo (no son ni ejercicios de aplicación práctica)
    Debes saberlo. Caro para lo que es.