Hey tradebanzai. Ask 10 traders their favorite options books & you'll get at least 10 different answers. My list (Amazon, everything ~40% off): Beginner: Thomsett - "Getting Started in Options", inexpensive, easy to read Intermediate: McMillan has 2 "Options as a Strategic Investment", fairly expensive, almost like textbook, 6th ed(?). McMillan on Options, lots of him explaining strategies Advanced: Natenberg - Option Volatility & Pricing, my copy 10 years old, its a very good book LEAPS: Understanding LEAPS Allaire & Kearney, replaced Roth Book which is not in print anyway, intermediate Options Institute book OK but I wouldn't spend $$ for it kny 3
I would skip the Thomsett book. It's way too brief. Save your money and go straight to McMillan "Option as Strategic Investment" before making your first trade. Most of these books are available from your local library.
That's right, he's a beginner so have him skip the beginner book, Thomsett, it must go for at least $12 to $14 on Amazon with free shipping. If you are going to try to make this work, buy them 1 at a time so you have them as a reference for a long time. I'd hate to be in the middle of a trade waiting for the McMillan book to be returned to my local library. kny 3
Thanks everybody for your support. What would you advice to read first: McMillan or Natenberg? Is Natenberg too complicated? Are options good for swing trading (few days) or weeks or more time period preferred? And what programs do you use for options trading? Thanks
McMillan covers everything you need to know about options. Natenberg talks specifically about the Greeks, pricing, etc.
Start with this: http://www.21stcenturyinvestoreducation.com/page/tce/courses/course-201/outline.html It's FREE and it's pretty comprehensive. McMillan and Nathenberg are great books to read after this.