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Study Guide for Options as a Strategic Investment 5th Edition Paperback – Illustrated, August 7, 2012
Purchase options and add-ons
- Print length176 pages
- LanguageEnglish
- PublisherPrentice Hall Press
- Publication dateAugust 7, 2012
- Dimensions7.35 x 0.45 x 9.15 inches
- ISBN-109780735204645
- ISBN-13978-0735204645
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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
- Best Sellers Rank: #44,424 in Books (See Top 100 in Books)
- #24 in Options Trading (Books)
- #187 in Budgeting & Money Management (Books)
- #227 in Introduction to Investing
- Customer Reviews:
About the author

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
Customer Reviews, including Product Star Ratings help customers to learn more about the product and decide whether it is the right product for them.
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Learn more how customers reviews work on AmazonCustomers 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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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
Reviews with images

The authoritative manual. There really is no other.
Top reviews from the United States
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- Reviewed in the United States on September 25, 2024For 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.
- Reviewed in the United States on October 27, 2022In 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.
5.0 out of 5 starsIn 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.The authoritative manual. There really is no other.
Reviewed in the United States on October 27, 2022
Images in this review
- Reviewed in the United States on February 10, 2014Simple 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.
- Reviewed in the United States on October 30, 2016It 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 .
- Reviewed in the United States on May 8, 2017Covers 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.
- Reviewed in the United States on February 24, 2022I'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.
4.0 out of 5 starsI'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.Helps reinforce learning
Reviewed in the United States on February 24, 2022
Images in this review
- Reviewed in the United States on February 6, 2013This 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.
- Reviewed in the United States on May 7, 2024I'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 GaliReviewed in Mexico on February 14, 2025
5.0 out of 5 stars Llegó en buen tiempo y buen estado
Buen libro
- antonio palumboReviewed in Germany on September 28, 2020
1.0 out of 5 stars Bad Amazon transparency
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
- BopeteReviewed in Canada on September 3, 2018
5.0 out of 5 stars A valuable aid when reading the book
The book is very thorough and detailed. The study guide helps in focusing on the most important topics and confirming you understand them.
- baneReviewed in the United Arab Emirates on March 10, 2021
1.0 out of 5 stars Don’t buy
Don’t buy it’s a work Book,they are selling at text price
-
Josep L.Reviewed in Spain on March 23, 2025
4.0 out of 5 stars Libro de tests cortos para comprobar que lo has entendido
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.