2 comments about Options Demystified.

1. "Options Demystified" is a worthy addition to McGraw-Hill's "Demystified" series, easily living up to its claim of being a self-teaching guide. Hundreds of books have been written on the subject of puts and calls, but this large-format paperback is by far the best I've come across for the aspiring option trader. It is comprehensive, well organized, generously illustrated and easy to understand. The book also includes many quizzes and a "final exam" to help the reader master the material.
   
   The author, Thomas McCafferty, has been around commodities, stocks and options for many years and written numerous books on those subjects. This one not only lays out the basics of the options game, it also condenses much of the author's impressive horse-sense into a very readable and relatively short work (251 pages, plus an excellent index). "Options Demystified" should be on every trader's shelf. Even pros will find some pearls here, including a chapter on "trading philosophy" that's perfectly attuned to today's frothy markets. I recommend this book wholeheartedly to anyone looking for an options primer that is both comprehensive and easy to imbibe.



2. This was a quick enjoyable read which provides an overview of options. This is a good first book to read to see if you want to invest more time studying.

5 comments about Profit with Options: Essential Methods for Investing Success.

1. This is the fourth book on options that I have read.

   I learned a lot from the 2 chapters on using options as indicators to spot insider trading activity and the chapter on volatility.

   The chapter on using options as insurance will help me teach my family the bare minimum of what every stock investor should know about options.

   The chapter on System Trading was useless to me.

   One "feature" of this book that irritated me at first is that the "Review Questions" after each chapter quiz the reader on information that wasn't covered. However, I quickly got over this minor irritation because the answers are useful new information. The section is simply mis-labled. It should be called "Relevant Questions" or "Frequently Asked Questions".

   At any rate, I used up an entire highlighter pen and that is good indicator that this book is worthwhile.

   One other minor nit-pick; the copyright date is 2002 but the examples are from 1999 and 2000 (pre bubble-burst). There are also a few references to "the video" which leads me to belive that this book is a collection of previously written reports. That's fine because the chapters are self-contained but the editor should have deleted the reference to "the video".

   Overall I give it 4 stars.

   Thank you to the author.




2. Profit with Options seems to have been thrown together from a series of talks, with little attempt at editing. The book is replete with mistakes that render the book useless to a novice options trader and frustrating to read for an expert.

   The figures are particularly bad, with incomplete or incorrect legends. On page 9, for example, are shown profit graphs for puts and calls. One problem is that the graph for calls is labeled "Put purchase" and the graph for puts refers to buying a call. This is worse than useless to a beginner because it is flat out wrong, and makes the expert wonder whether anything else in the book is sufficiently reliable to trust. Another problem with this figure is that neither graph has any numbers on the axes.

   Poor labeling of figures renders indecipherable many of the figures in Chapter 2, which deals with options as direct indicators. Figure 2.1, for instance, does not provide dates on the X-axis, so when the text says something about what happened on July 29, it's difficult to know where to look on the chart. Many of the charts in this chapter include several data plots, apparently including price and option volume, but the plots are not labeled. Sometimes the text refers to put volume and call volume, but the charts don't indicate which is which.

   The text often is no more clear than the figures. The discussion on stops on page 133, for example, states: "So you gave back a lot by waiting for your stop to be hit. Or did you Will, in this case you did, but what if the S&Ps had gone on to 1335?" Who the heck is Will, and what does he have to do with anything?

   The "review" questions are not really review questions. I expected them to review subject matter that was covered in the preceding chapter. However, the questions are directed to material is not covered in the chapter.

   I'm going to try a different book on options. It's just too frustrating to get anything useful out of this one.




3. I have read McMillan's other books and found them interesting and educational. But this book does not have any eyeopening material. If you are a beginner in options then this is not for you; if you are not a beginner then this book is not for you also. You probably know how volatility affects option prices etc., The author has just filled the pages with many historical charts of stocks. Instead he could have just illustrated his points with a couple of charts for each topic. Instead of a book this just deserves to be a booklet.



4. I am jsut wondering why many people take this book as another 'Bible' leveled book. It sounds exactly like an insult to all those real 'Bible' books.
   
   Some other reviewers are right: the editting is lousy, the graphs are irresponsible,...., and some other over a thousand flaws. One can expect to learn more by simply browsing Optionetics forum.



5. This book could probably be considered the Chevy in McMillan's fleet, with McMillan on Options and Options as a Strategic Investment standing as the Cadillac and Corvette, respectively. It's a worthwhile addition, but if you're new to McMillan, you'd probably be better-served by one of his more well-known works.
   
   This is a relatively short book that provides some tools for using options as direct or contrary indicators, and actual strategies for employing options to profit off expected movement in price or volatility. The book also provides some good guidelines for evaluating indicators like the put/call ratio (index and equity-only), VIX (old VIX, now VXO), and how to interpret volume in an options chain for possible signs of predictive insider trading. Later chapters get a little more complicated, covering some strategies for volatility buying and selling, etc.
   
   The "workbook" end of this volume is rather thin, basically comprised of 12-20 questions at the end of every chapter covering what you've learned, with an answer index in back.
   
   If you're a McMillan fan or new to options, you'll probably like this book. Otherwise, check into his better-known volumes first.

5 comments about The WealthLoop Series Beginner's Guide to Building Wealth Buying Houses: The Foolproof Roadmap to Real Estate Riches Without the Risks and Hassles of Landlording.

1. The book is excellent and very informative and is written in a simple yet to the point manner. Mr. Michailidis take you through the process, and provide life examples to validate his theory. The book is enlightening and provides an easy road map to success - utilizing the "rent-to-own" concepts. The only draw back I found in the book is that Mr. Michailidis did not provide a totaling spreadsheet reflecting the impact if one is following his book advise - but this can easily done by the reader as well. This book should certainly be in any real estate investor library.



2. how to book. Most have the theory and little actual details.
   It was hard to believe there were as many buyers out there as the author says. I gave the book to a local realtor and he read it then introduced me to a couple of mortgage brokers. They pretty much confirmed that buyers were there. They also gave some stories of higher returns than the author stated.
   
   Trouble is that there are 2 markets around here. One where I wouldnt want to go after dark and one where 180K is a low end house.
   
   So now I am sending a copy of the book to another realtor in a nearby community



3. Hello everyone I have read John Michailidis's book and will be putting it to the test!
   
   Please read about my experiences at my blog: http://happyventure.wordpress.com/
   
   I have a few questions on the process and would like to exchange ideas with readers would have implemented or will be implementing his method.
   
   I've just started so comments and feedback are much appreciated!



4. This is a no frills book on one method of investing in real estate. The author has done a great job of explaining his system in a concise and straight-forward way. Thumbs up!



5. I liked the book.
   Easy read which applies economic, financial and
   accounting principles combined with marketing
   ideas to come up with a unique real estate
   capitalization plan. Waiting for an up-tick in
   property values and I'll give it a spin.
   I don't believe the theory works in a down market.
   thank you - John.

5 comments about DeMark On Day Trading Options.

1. Prior to xmas and on my birthday I received a copy of DeMark's 'New Science of Technical Analysis'. I have been a professional trader for over 20 years and currently head up the trading operation at one of the major Wall Street firms. I thought I knew how market operateed and I shared my expereince on TV, radio, and in newspapers for years. Upon reading this book and as well ass the other two in the DeMark set, I have gained a profound new awareness how markets truly behave. The author is beyoind peer in defining and describing the intricacies of price behavior. What an enlightening series of reads.



2. My trading partner introduced me to the author's work. He told me that the author had worked closely with Paul Tudor Jones, Leon Cooperman, Steve Cohen and other industry titans. To be associated with these guys, he had to have something of value. After reading his books, my conclusion is that he truly possesses a creativity and market awareness that is unmatched in the industry. Although the ideas he presents can be profitably applied, I am certain that he does not share everything he knows with the reader. Regardless something is better than nothing.



3. You may want to think twice about this one. Not to be negative, but it is very hard to follow. Clear and concise dialog is absent in favor of unnecessary "branding" if you will of common techniques mixed with completely unverified and difficult to back test methods for trading the markets. This is trading celebrity gone wrong. I would love to know the remaining balance of an investment account traded with these "TDious" indicators. You can at least save yourself from this trade.



4. The previous reviewer cites the perception of the author's inflated ego. I too was distracted by the author's tendency to refer to "TD" indicator this and that and this disturbed me. However, i had the good fortune to meet the author at a Bloomberg seminar and the author explained why he chose to preface his indicators with the 'td'. The justification he gave was that his attorney wanted him to trademark and control the indicators and that was the effective way for him to accomplish that goal. I accept that reason and more than that I can overlook the petty complaint that it is distracting by concentrating upon the value I find in the indicators. I say call them whatever the author wants to since bottom line they are the best I have seen in my 35+ years in the industry.



5. I am a fan of Demark's indicators if you or I can ever get them. His indicators are only given to high dollar companies like reuters. My reading of this book was a painful process of trying to understand a indicator I cannot even use in trial applications. IT is clear that Demark has left his loyal following to make up bargin basement Metatrader indicator rejects. Like most in this business.....business comes first. I rank this has a 3 and the only reason it got a three was because of the quality of the work. Demark is really only valued by the traders who honestly don't need him to trade like myself. If I was a rookie and pick up one of his books I would not trade the markets because of the over don't explanation and indicators I could not follow. Do not read the reviews folks. They seem real suspect. Make a simple explanation book Demark and make your real indicators available.

3 comments about The Complete Idiot's Guide to Options and Futures, 2nd Edition (Complete Idiot's Guide to).

1. This book reads like the first draft of something better that will arrive in a future (no pun intended) edition. Despite the title, the book is really solely about futures; options are discussed only insofar as they pertain to futures, so the book does not really cover much about, say, options on stock or on financial derivatives (other than futures). The book is riddled with typos and errors, both mathematical and grammatical, making it difficult to follow what is happening, and it reads as if it were hastily written and sloppily edited, with frequent repeats and occasional poor organization. There are some bright moments -- occasionally the book has a really insightful definition or a clear, carefully worded example. Overall, though, you are probably better off trying a different book, especially if you want to understand options really well.



2. Let me start by stating that Scott Barrie does a great job converting the subject matter in this book to something that a casual, perhaps even disinterested party, can understand. I have never read any of the other Complete Idiot's Guides, but if this is how they deal with the incredibly complex subject of Commodities Trading, I wont be buying any of them again for other subjects. This was the third book in my commodities trading education. After book's one and two, this book taught me nothing. Not one thing. It does not provide enough depth on any of the multitude of subject matters that are required knowledge of the trader. However, it does touch on nearly every matter that a trader should be deeply knowledgeable about. This book was so short on details that if you were to read this book and then attempt to trade even a single transaction, it is my opinion that you would have NO IDEA what you were doing. If you are interested in Trading, a better first book is Futures 101. That will give you a better understanding if you know nothing. This book really is for people who know nothing about trading. And dont have an interest in trading either, but are interested in the subject as hobby of sorts.



3. The information in this book is worthy of 3-4 stars for a novice investor if it had been presented in a coherent, accurate manner. As it is published, the mis-worded sentences and mistakes have the reader constantly going "huh?" Given that the premise of the book is an introduction to basic concepts, I'd say that the blatant mistakes in the book might really confuse anyone who needs this level of information, and if you have the level of basic understanding that allows you to sort through what's stated correctly and what isn't, you probably are ready for a more advanced book. Example mistakes are using the word "sell" where the word "buy" was clearly intended (and vice versa - oops don't make that mistake with real money!), and redundant inconsistent units ( "$X.YY cents" is a confusing expression used repeatedly throughout the book). The sloppy editing aside, if you know very little about options and futures but are literate, trust your own common sense, and realize that there are "silly" mistakes which you must correct in your head or with a pen/pencil as you go along, you can probably sort things out and benefit from this book.

5 comments about Covered Calls and Naked Puts: Create Your Own Stock Options Money Tree.

1. The writing style detracts form the otherwise good explanation of what options are and the recommended techniques.



2. Overall I would recommend this book if you are new to covered calls and naked puts and want to gain a basic understanding of how they work. While income can be generated selling options a good stock picking strategy is a must if you are going to be successful. With that said I wouldn't necessarily recommend the stock picking technique that is outlined in the book. I also found it extremely annoying that the author constantly plugged his software package.



3. I trade lots of stocks and options, I disagree with the authors method of selecting stocks to trade but his concept is right on the money. I have been trading for 25 years and the simple covered call, naked put strategy is the backbone of my successful trading program. I have about 20 stocks in my "stable" that I am comfortanle with and apply the books methods to those stocks (because I know the personalities of these stocks). The story line in the book is pure cheese but the concept is excellent, I recommend the book as a way to get into a stock cheaply (naked puts) or enhance your returns (covered calls).



4. This book is good for improving your speed reading skills as you scan the trite "story" for any useful nuggets. About 15% of the verbiage has anything to do with options. The rest is sophomoric prose representing the characters' acquisition of the keys to consistent 28% returns from the professor, which you too can obtain buy purchasing his simple software.
   
   The testimonials on the back suggesting the text could serve as an "academic supplement to hedging financial instruments" are especially ludicrous.



5. I have ordered twice of these books, but I have not received them yet for some reasons. Please check it for me about my order. Thanks

5 comments about Fundamentals of the Futures Market.

1. If you are new to trading, or are interested in learning about the futures markets, then you will not be disappointed with this book. I was definitely impressed with the amount of market information that it covered. The History of the Futures markets, fundamental & technical analysis, mechanics of the trading floor, margins, interpretation of news, are all explained. In addition, it contains a great section on trading techniques for each specific commodity market. This would make a great reference textbook for seasoned traders and brokers as well. I would definitely recommend this book.



2. Most "investment advice" books suffer from poor editing, both of the 'grammar & syntax' variety, and, more distressingly for this genre, flat-out incorrect information. Klines's book is no exception- the grammar & syntax are fine, but her book is replete with factual errors and misstatements. For example, on page 207, she defines a synthetic long futures as "sell a call option, buy a put option." Wrong. That is a synthetic short position. Similar errors pervade the book.
   One useful feature is chapter 3, which presents futures contract specifications. However, even here, some of the information is occasionally confusing or misleading.
   This book is published by McGraw-Hill, a highly reputable house. My surmise is that McGraw-Hill has no financial experts on its editorial staff; otherwise, it wouldn't tolerate the publication of such a sloppily-edited piece. Disappointing!



3. This is a very good book if you are looking for a career in futures. Whether you will be a trader or a broker, there is a ton of helpful information inside that you can't find anywhere else. There is an entire chapter called 'Tips of the Trade' that walks you through some of the nuances and quirks of markets like soybeans and the E-mini S&P. The book explains how to determine the future expectation of interest rates by using the Fed Fund futures. There is information on how margins work and an entire section on options. The part that I found to be most unique is the discussion of order placement - where mistakes often occur and how to prevent them. I recommend this book to anyone who is getting started in the futures industry.



4. I am new to futures trading and I found this book to be very helpful and easy to understand. It is well written and covers a wide variety of trading terms and techniques. I did notice a typo or two, but they are obvious and do not detract from the message of the text.



5. Not so well written, a little manual-like and hard to read.
   Written for the beginner it tries to cover too much but misses out some important basic information.
   Have read many books on trading and had hoped to fill-in the details on the futures area fundamentals. Have to look for another book now though.

5 comments about The Complete Idiot's Guide to Daytrading Like a Pro, 2nd Edition (The Complete Idiot's Guide).

1. Sorry, but this book appears to have been written by a wanna be writer whose style---if you can call it that---is so blatantly irritating, condescending, and ridiculous that its facetiouseness distracts from any worth the book might otherwise provide which is minimal at best. Almost every paragraph contains a silly lead in to the next as if the writer is trying to hold your hand and help you 'get through' the material. Stuff like, 'ok, we're almost there now!' and 'I know you probably want to get right to the good stuff, but first, let's get a few of the harder points over with!....' Still with me? Both the writer and publisher should be pilloried for presuming the public is THAT dumb. You guessed it: don't buy this rubbish. And while we're at it, probably the only other book that's just as bad as this one for silliness is Toni Turner's.



2. If your stock market experience is limited, this book will serve as a good introduction. The material is basic and presented in an easily understood format.



3. This particular book is fine as a general reference on the stock market, but frankly beginners will need more concrete and to the point strategies to make it as online stock traders.
   
   The reality is that the stock market doesn't care if you are a beginner. It will gladly take your money away if you don't know what your doing. So the bottom line is, you better be PREPARED before you even think about making your first trade.
   
   Stock trading is a very competitive field and in order to succeed you need to FOCUS on a set of simple strategies that you can implement without hesitation.
   
   This game is all about buying and selling according to your set ups. So the clearer your set ups are, the easier for you can be to make a profitable decision.
   
   Hopefully some sites on the web do offer more relevant and updated stock trading information. One of those sites is Sharp Trades ( SharpTrades com )
   
   They focus mainly on short term momentum stock trading strategies, that in my opinion are easier to implement than many other technical systems outhere.
   
   Stock trading doesn't have to be complicated as many people perceive. But you do need to follow a well organized set of rules and tactics, that once you master them, you can aspire to replicate profitable trades with consistency.



4. New edition just out. More sensible approach, and updated. Definitely worth the money, especially for new traders.



5. Recently I decided to try short-term trading. Soon I realise that I need to learn more. What is going on behind bid/ask postings, how to read and interpret Level II quotes, what is Naqdaq TotalView, what advance platforms are available today, etc? So I went to local bookstore and browsed through the section. Didn't find anything satisfactory so bought this book as a temporary solution. After an hour of reading I decided to write my first book review on Amazon.com. This is simply the best book I could hope to find on the subject: precise, structured, brief yet informative, state-of-the-art information. Excellent book overall. I highly recommend this book for beginners and may be even more experienced traders that didn't keep up with the latest advances. My only complain is that the indexing is not detail enough.

5 comments about Options Trading for the Conservative Investor: Increasing Profits Without Increasing Your Risk (Financial Times Prentice Hall Books).

1. Essentially a book that attempts to frame options trading in a world where your fundamental analysis of a company will drive strategy. The basic assumption of this book is that you can effectively analyze the fundamental strength of a stock and that you can execute several options strategies to increase the income generated from the stock. However, many of the strategies presented still require one to utilize technical analysis (e.g., choose strike prices based on support-levels), as well as provide little in the way of strategy modiifcation if the company's fundamentals change during the life of a call. This is a good book for developing some new investment strategies, however the reader will benefit if they have a good understanding of technical analysis as well.



2. Overall lots of information, but Thomsett does not fully explain the risks involved with selling covered calls. Essentially all of his model portfolio would have been in the money after selling the Leaps wtih in weeks. Rolling would not be practical as one could only roll up for the 27 month Leaps. Selling a Pepsico 27 mo. Leap at 50 with a current price (in Sept of '02) of 48.48 netted a $4.30 premium. The stock hit $50 within a month or so and was at about $63 by expiration. The only way out would be to roll up (at an ever increasing cost), hold for two years, or buy back the call. For the average investor (including myself) seems a bit complicated. If after selling a call, the price falls, the risk is even greater. One would need to close out the call by purchasing it back before selling the shares or risk having a naked call. The stradles described later in the book may reduce risk but for most trading accounts managing margin is not for the faint of heart. Definitely read this book with a large grain of salt and thourghly understand the risks associated with such options trading.



3. Great book if you are considering doing options in your IRA or Roth. Author is very straight forward in pointing out pit falls with a number of option stradegies that could get one into trouble and on the flip side those that work that will build your portfolio over time. I also liked that the author spent some time on tax implications of Options that other authors never speak about. Author could have spent some time on how one searches for stocks that fit the conservative option stradegey, i.e. how to use filters and screeners in various web sites.



4. 
   The ratio of talk to concrete examples is 85% to 15%. I like straight to the point books, that can and should reinforce important points but keep the fluff to a minimum...



5. As an investor I used to take investing with options as more of a speculative strategy, after going through this book, my view about investing with options is changed. Now I am convinced that in some situations, investing with options may yield better result then stocks.
   One negative about the book; is repetition of the concepts, I would not complain much since that repetition clear my understanding of the new concepts.

3 comments about Options for the Beginner and Beyond: Unlock the Opportunities and Minimize the Risks (Financial Times (Prentice Hall)).

1. Trading in options by regular folks looking for big returns has been catching on and I am not sure why. Are they really trying to use options to alter the risk of their retirement portfolios - either lowering the risk to ensure the preservation of capital or to add volatility with the design of increasing returns? Probably not. The average person is probably acting as a speculator and placing bets. For the market, this kind of behavior is a good thing because it adds noise that allows the professionals greater opportunities to profit. Now, think about what that means. You know the old saying about sitting down and a poker table and if you can't spot the patsy that it's you? Remember, options are an area of the market where there are only winners and losers. These are instruments where one side wins and the other side loses. However, in the right hands they are very important and useful financial instruments.
   
   This book is not a textbook on option theory, pricing, or how to use them in the context of lowering or increasing risk in a portfolio. It is a basic how to text for buying and selling options as speculative investments. The author, W. Edward Olmstead, is a math professor at Northwestern University and teaches a course in options. His experience with the topic shows because the text is clear, easy to read and to grasp. That is a fine accomplishment because learning how options work can be a mind bending experience for the first timer. Admittedly, he doesn't take the reader into pricing. Here, as an investor, you basically take the price given and make a decision. Of course, developing a position about what the price "should be" is what professional options investors do and if you are just licking your finger and sticking it into what you believe to be the financial breeze, well, just remember I warned you.
   
   Olmstead organizes the book into three parts. The first explains the basic concepts of what options are and some ideas about buying and selling them. His notions of when to buy and sell and how to use the way options change their value throughout their "life" are quite interesting. It would be fascinating to find out how well they work in real life and if they did, why these abilities to gain aren't simply priced away by people trading against them.
   
   Anyway, the second part goes into trading strategies and describes various kinds of spreads, collars, and so forth. Of course, these positions are geared towards fashioning risk for certain kinds of outcomes. They are not magic in themselves and are just as likely to end up worthless as any other set of options, but the downside and upside will be more specifically defined.
   
   The third part contains special topics (including DAY TRADING with options - oh boy, talk about walking into a financial mind field wearing lead boots), he touches on pricing and volatility and delta neutral trading.
   
   An interesting book that can help the beginner get some idea about options and can help those itching to trade in them begin to do so. Just remember the old childhood saying that knowledge is when you know the stove is hot. Wisdom is what you have on your fingertips after you touch the hot stove.



2. This book has excellent examples to supplement the excellent details about how to use Stock Options. Well written and easy to understand.



3. I have taken hours of classes on how to trade options. I have read lots of books on how options work and how to trade them. I have traveled hundreds of miles and spent thousands of dollars to learn how to become a better options trader. This book is sooooo... good if I had read this book first I would have made more money, loss less money, and I could have gained 100% more value from all the other options training I have done. If you are looking at trading options this is your starting point! If you already trade options then use this book as a review, becasue it has some very lucid explinations e.g.Chapter 29 - IV (implied volatiltiy) and the Black Scholes model. Now this will not be the only options book that you will get, and it does not go into super detail depth like a Sheldon Natenberg, but it is easy to read, it gets directly to the point and it's relatively small compared to other options books. The chapters are written independently of one another, so you can skip through the book and read exactly what you want. So if you just want to know how a double diagonal works then you read that chapter and your done. Thank You Professor Olmstead!They need to rename you Uncle Option :)