I got the his 2 books "Options As Strategic Investment" and "McMillan On Options". Is it absolutely necessary to read them cover to cover or should I use them like a dictionary to look up only the strategies than interest me? Thanks!
While you are at it, you can read Natenberg's bible as well. After you have done all three, go pick up optioncoach's handbook. It is a must for advanced traders.
Depending on how well versed you already are in options I found the workbook that goes with "options as a strategic inv" which covers the 1st 25 chapters very helpful. Definitely the 1st 25 chapters then the rest later on. Natenberg's was more helpful the second time around when I understood a little more.