Larry McMillan Options Books/DVD Courses

Discussion in 'Options' started by Chris Paciello, Sep 1, 2018.

  1. Hello,

    Just wanted to get some feedback on those who have either read a Larry McMillan book or taken one of his courses? Was it worth it? Did you get a lot from it? If so, any feedback would be greatly appreciated.
  2. tommcginnis


    If only to be knowledgeable when somebody asks, "Have you read McMillan?" And you can say yes. He's a standard. He is a smart guy, and wrote a seminal book. But it's not the be-all-and-end-all that it is sometimes made out to be. (FWIW, I would get a cheap used Options As A Strategic Investment before the other two derivatives.)

    For me, LM's best contribution might be something easily gleaned from a video -- that options are risk vehicles, not something magical. They're just insurance. They operate in a mostly 3-surfaced world, where looking at graphs of delta, theta, and vega, over 3-month, 1-month, and 1-week, pretty much tell the whole tale. The whole tale. (He's very relaxed. I bet he'd be great to sample whiskys with -- and I'm a beer guy. :D)
  3. rwnomad


    The above referenced book is a good place to start your learning, It will not prepare you to do any trading. After reading the book you could start sim trading and backtesting to formulate a trading plan. You could also look at some books that lay out specific options trading strategies, like Michael Benklifa's book on Iron Condors. That book has a very basic plan to trade in it. There is still a lot more to learn about the Iron Condor trade beyond the book.