This is part three of the Options Series. In this article, we will answer the question of Which Options Trading Book is Best?
For many people, options trading is a strange and mysterious investment practice. Fortunately, there are numerous educational books on the subject that demystify options and help traders profit from them. My favorite option trading book is “Option as a Strategic Investment,” by Lawrence McMillan.
For many, it is considered to be the Bible of options trading. It provides traders with practical option trading strategies designed to minimize risk and maximize profit potential. Its 1,000-plus pages contain information on specific options strategies and market conditions in which they tend to work best. The book dives deep into using options as a hedge and explains how tax laws apply to option trading profits or losses. It also offers detailed advice on trading index options, trading options on futures, and measuring market volatility. In my opinion, it is the best options trading book.
Admittedly, it is essentially a textbook. For those of you who prefer not to slough through that, our programs have condensed those strategies into bite sized chunks that we review and practice weekly.
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Check out this link from Investopedia if you want even more details on Options.