Legendary Options Trader Larry McMillan Shares His Personal Strategies for Consistent Profits
Larry McMillan is a legendary options trader and educator. He has been trading options for over 40 years and has written several books on the subject, including the best-selling McMillan on Options.
In the new second edition of McMillan on Options, McMillan shares his personal strategies for consistently profiting from options trading. He covers a wide range of topics, from the basics of options pricing to advanced options strategies. McMillan emphasizes the importance of risk management and disciplined trading. He also provides a number of tips on how to avoid common mistakes.
The new second edition of McMillan on Options has been updated to reflect the latest changes in the options market. It also includes coverage of new and increasingly popular products, such as LEAPS and binary options.
If you are serious about learning how to trade options, then McMillan on Options is the book for you. It is a comprehensive and informative guide that will teach you everything you need to know to start trading options successfully.
| Book Title | McMillan on Options |
|---|---|
| Author | Larry McMillan |
| Genre | Non-fiction, Investing |
| Published | 1998 |
Using the S&H Weighted Put-Call Ratio and the Price of Gold Futures to Trade Gold Options
and the Second graph is related to the book McMillan on Options by Larry McMillan. The book discusses the use of options to trade gold futures.
This graph is related to the book McMillan on Options by John McMillan. It shows the S&H weighted put-call ratio, which is the ratio between the price of the stock and the price of the call option. The S&H weighted put-call ratio is a technical indicator that can be used to identify bullish or bearish sentiment in the market.
Overview Of Mcmillan on Options Book:
McMillan on Options is a comprehensive guide to options trading written by Larry McMillan, a renowned options trader and educator. The book covers a wide range of topics, from the basics of options pricing to advanced option strategies.
The book begins with a brief history of options and a definition of the terms used in options trading. McMillan then discusses the factors that influence an option’s price, such as the underlying asset price, the strike price, the expiration date, and implied volatility.
The next section of the book discusses option strategies. McMillan covers a variety of basic and advanced strategies, including covered calls, protective puts, straddles, strangles, and butterflies. He also discusses how to use option strategies to manage risk and generate profits.
Throughout the book, McMillan shares his own personal trading philosophies and insights. He emphasizes the importance of risk management and disciplined trading. He also provides a number of tips on how to avoid common mistakes.
The book concludes with a discussion of other important considerations for options traders, such as taxes, margin, and trading psychology.
McMillan on Options is a valuable resource for anyone who wants to learn about options trading. It is well-written, easy to understand, and packed with valuable information. If you are serious about learning about options trading, then this book is a must-read.
Here are some additional details about the book:
The book is written in a clear and concise style, making it easy to understand even for beginners.
The book is packed with valuable information, covering everything from the basics of options pricing to advanced option strategies.
The book includes a number of useful charts and tables that can be used to calculate option prices and to track option market volatility.
The book is written by Larry McMillan, a renowned options trader and educator.
If you are interested in learning more about options trading, then I highly recommend reading McMillan on Options.
Mcmillan on Options Book Review:
The first part of the book provides a thorough overview of options, including the different types of options, how they work, and how to price them. The second part of the book discusses option strategies, covering both basic strategies like covered calls and protective puts, as well as more advanced strategies like straddles, strangles, and butterflies.
McMillan also shares his own personal trading philosophies and insights throughout the book. He emphasizes the importance of risk management and disciplined trading, and he provides a number of tips on how to avoid common mistakes.
McMillan on Options is an essential resource for anyone who wants to learn about options trading. It is well-written, easy to understand, and packed with valuable information.
Here are some of the pros and cons of the book:
Pros:
- Comprehensive coverage of options trading
- Clear and concise explanations of complex concepts
- Personal insights and trading philosophies from Larry McMillan
- Useful tips for avoiding common mistakes
Cons:
- Can be a bit dense for beginners
- Lacks some of the more recent developments in options trading
- Overall, McMillan on Options is a valuable resource for anyone who wants to learn about options trading. It is well-written, easy to understand, and packed with valuable information. If you are serious about learning about options trading, then this book is a must-read.
Highlights of the Book:
Here are some of the standout aspects of the book McMillan on Options that readers will find interesting or unique:
The book covers a wide range of topics, from the basics of options pricing to advanced option strategies.
McMillan provides clear and concise explanations of complex concepts.
He shares his own personal trading philosophies and insights throughout the book.
The book includes a number of useful tips for avoiding common mistakes.
Here are some specific examples of the standout aspects of the book:
In the chapter on options pricing, McMillan provides a clear and concise explanation of the Black-Scholes model. This is a complex mathematical model, but McMillan does an excellent job of explaining it in a way that is easy to understand.
In the chapter on option strategies, McMillan discusses a variety of basic and advanced strategies. He provides clear explanations of how each strategy works and how to use it to manage risk and generate profits.
Throughout the book, McMillan shares his own personal trading philosophies and insights. He emphasizes the importance of risk management and disciplined trading. He also provides a number of tips on how to avoid common mistakes.
The book includes a number of useful tables and charts that can be used to calculate option prices and to track option market volatility.
The detailed table of contents of the book McMillan on Options:
Chapter 1: Option History, Definitions, and Terms
- Option History
- Definitions
- Terms
- Exercise and Assignment
- Futures and Futures Options
- Influences on an Option’s Price
- Delta
- Technical Analysis
Chapter 2: An Overview of Option Strategies
- Profit Graphs
- Outright Option Buying
- Using Long Options to Protect Stock
- Buying Both a Put and a Call
- Selling Options
- Spreads
- Ratio Strategies
- Summary
Chapter 3: The Versatile Option
- Options as a Direct Substitute for the Underlying
- Options as a Proxy for the Underlying
- Options as a Hedge
- Options as a Speculation
- Options as a Portfolio Insurance
- Summary
Chapter 4: The Predictive Power of Options
- Using Stock Option Volume as an Indicator
- Using Option Prices as an Indicator
- Implied Volatility Can Predict a Change of Trend
- Earnings Reports
- Economic Indicators
- The Weighted MSFT Put/Call Ratio
- Summary
Chapter 5: Trading Systems and Strategies
- Trading Systems
- Trading Strategies
- Summary
- Chapter 6: Trading Volatility and Other Theoretical Approaches
- Volatility
- Volatility Trading
- Other Theoretical Approaches
- Summary
Chapter 7: Other Important Considerations
- Risk Management
- Taxes
- Margin
- Trading Psychology
- Summary
Conclusion:
McMillan on Options is a highly valuable and comprehensive guide to options trading, penned by Larry McMillan, an experienced options trader, and educator. The book covers an extensive range of topics, from the fundamentals of options pricing to advanced option strategies, making it an ideal resource for both beginners and seasoned traders. McMillan’s personal insights, emphasis on risk management, and practical tips make this book a must-read for anyone serious about delving into the world of options trading. It’s clear explanations and useful tools, such as charts and tables, ensure that readers can grasp complex concepts with ease. Overall, McMillan on Options is an indispensable asset for those seeking to enhance their understanding and proficiency in options trading.
I hope you enjoy reading McMillan on Options as much as I did. And if you’re looking for more great books to read, be sure to check out my other blog posts.
The world of literature is a vast and wonderful place, and there’s something for everyone to enjoy. So don’t be afraid to explore new books and genres. You never know what you might discover.
Happy reading!
