Options as a strategic investment pdf free download : “Options as a Strategic Investment” is a comprehensive book on options trading written by Lawrence G. McMillan. First published in 1973, it has become a widely regarded and influential resource for both novice and experienced traders in the options market. This book provides an in-depth exploration of options strategies, risk management techniques, and market analysis.
The main strength of “Options as a Strategic Investment” lies in its ability to cater to traders with varying levels of expertise. It starts with the basics of options, including definitions and terminology, and gradually progresses to more advanced topics. This gradual approach ensures that beginners can grasp the fundamental concepts before delving into more complex strategies.
McMillan emphasizes the importance of understanding and managing risk throughout the book. He provides detailed explanations of various options strategies, including covered calls, protective puts, spreads, and combinations. By using real-world examples and case studies, he demonstrates how these strategies can be employed to maximize profits while effectively managing risk.
One of the notable features of this book is its extensive coverage of volatility and its impact on options pricing. McMillan explains the concept of implied volatility and its role in determining the value of options. He also explores strategies that can be used to take advantage of different volatility scenarios, such as straddles and strangles.
In addition to strategy and risk management, McMillan dedicates a section of the book to technical analysis and charting techniques. He explains how these tools can be utilized to identify trends, support and resistance levels, and potential entry and exit points for options trades.
While “Options as a Strategic Investment” is undoubtedly a comprehensive and valuable resource, it should be noted that the book assumes a certain level of familiarity with basic options concepts. Some readers with limited options trading experience may find certain sections challenging to grasp initially. However, with perseverance and a willingness to learn, the book offers a wealth of knowledge that can greatly enhance one’s understanding of options trading.
In conclusion, “Options as a Strategic Investment” by Lawrence G. McMillan is an essential read for anyone interested in options trading. It covers a wide range of strategies, risk management techniques, and market analysis concepts, providing both novice and experienced traders with valuable insights. By emphasizing the importance of risk management and providing practical examples, McMillan equips readers with the tools necessary to navigate the complex world of options trading.
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