Here's an answer to a question I posed to a quanty fellow who's doing a little retail options trading prior to the job hunt...he's at another board. (question went something like, "math..hm?" "Options is based on Black-Sholes. BS is a calculus formula. Hence options is based on math. Now, how much math you need to know is a different topic. Sky is the limit. My feeling is the more math and statistics one knows, the better one understands options. Now, someone will argue that knowing math/stats does not make someone a good options trader. Fair enough because trading is about risk/money management too (see Taleb, etc.). But I think not knowing the math/stats will make someone a bad trader because that person does not understand option pricing and hence does not understand fully the instruments he is trading. I say learn as much as math/stats as you can but don't be fooled into a false sense of security by knowing math/stats. After all, market movement is determined heavily by mass psychological forces." Sounds fair enough, eh?