Rating: 
Summary: A winning combination of insight, caution and clarity
Review: This book is a gem. I wished all introductions to the markets, or any other technical subject for that matter, were this clear. Anyone writing a textbook should look here first. I know of no other book that combines clarity and insight in such a stimulating way.
Negative comments on this book must be based on false assumptions. This book does indeed not offer guidance for a riskfree richess. A very good book.
Rating: 
Summary: Recommendation:
Review: This book is very good for standard derivatives strategies. However it does have some weak sides in that it cover the mathematics only briefly, does not include spreadsheet programming or option models, and it focuses mostly on more common strategies instead of customising derivatives. It describes each strategy in detail with follow-up actions, but I'd like to see more clearly if the described strategy is a Delta, Theta or Vega play as soon as I see the pay-out profile, not after digging into the text. It is still by far the best book I have read on the subject, and I'd recommend it to everyone that think they are interested in derivatives.The book assumes some knowledge of financial markets in general and does not explain why a market goes up or down. It is only concerned with the derivatives strategies and how these are supposed to work.
Rating:
Summary: Dry and boring as heck, but required reading
Review: This book reminds me of most of my old engineering textbooks. Really easy to fall asleep to. BUT... there is truly a wealth of information in here. It would be suicide to trade options without the information in this book. I really liked the analytical no-hype approach to it. I've already built several profitable computer trading tools based on this book.
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Summary: Options
Review: This book will explain all the different option strategies. It has a lot of information and it is very easy to read. I recommend it to antone that really wants to know about all the possibilities of options.
Rating:
Summary: A very good Start
Review: This book, while rather lenghty, starts with the basics and eventually works up to the more complex strategies. Some of the reviews stated they wanted more mathmatics. While there are more complex books on options, this book should be in any option trader's library. Yes,the mathmatics are limited, but the book focuses on the concepts rather than the models. I recommend this book to any newly licienced securities trader or options principal. If more of my clients read this book, my job would be much easier. I hope that all the readers appreciate the risks of trading options and understand them before embarking on some of these option strategies. As a quick background, I currently have seven different security licenses and this was one of my favorite books. Definitely not light reading!
Rating:
Summary: Great book for learning options trading
Review: This is a great book for acquiring an understanding of options trading and their uses in a well structured portfolio.
Rating: 
Summary: All theory and no application
Review: This is all theory and no application. McMillan's broker states that he loses money and make money from his books. Show us your trades and not the theory
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Summary: Anything you want to know about Options is here
Review: This is the most comprehensive book written on options and its strategies. There is nothing missing in here. The book covers all the strategies and each includes all the calculations needed to figure out what you have at risk. After reading this book I was able to calculate margin requirements, profit, loss, and risk.
Rating:
Summary: This is THE book.
Review: Try as I might, I cannot understand the negative reviews here. This is THE book on options. McMillan writes clearly and well. There is nothing glib here -- no promises of great wealth, no hype, no pandering to fools. What is here is solid information presented well and thoroughly. A criticism that came up more than once (copy cat reviews?) is that the book doesn't show practical stuff. What! It provides all the information that any reasonably intelligent person needs to UNDERSTAND exactly what the strategies are and when to apply them. To ask for more is to ask for easy and oversimplified answers that will part you from your money. The book is thick. True. You don't need all that is in it. True. The book is frightening or dull or not as useful as (gimme a break!) Wade Cook!!! Hey! It's a text book, not a novel. Wake up! You can use it to find what YOU want to know. There is more useful information in this book than in any hustler's high-priced and hype-filled seminar. It's all you need and it's currently selling for less $. Don't get scared off by the negative reviews or you'll miss out on the most respected and best of all the many books written on options. If you're not willing to spend $ and a little effort to learn about options, you're not likely to profit from them. Buy the book. Then, sit down and read in it to find the definitive answers to your option questions. It simply doesn't get any more accurate, any clearer, or any better. (Oh yes, one or two reviewers suggested that the book is out of date.
Rating:
Summary: This is THE book.
Review: Try as I might, I cannot understand the negative reviews here. This is THE book on options. McMillan writes clearly and well. There is nothing glib here -- no promises of great wealth, no hype, no pandering to fools. What is here is solid information presented well and thoroughly. A criticism that came up more than once (copy cat reviews?) is that the book doesn't show practical stuff. What! It provides all the information that any reasonably intelligent person needs to UNDERSTAND exactly what the strategies are and when to apply them. To ask for more is to ask for easy and oversimplified answers that will part you from your money. The book is thick. True. You don't need all that is in it. True. The book is frightening or dull or not as useful as (gimme a break!) Wade Cook!!! Hey! It's a text book, not a novel. Wake up! You can use it to find what YOU want to know. There is more useful information in this book than in any hustler's high-priced and hype-filled seminar. It's all you need and it's currently selling for less $. Don't get scared off by the negative reviews or you'll miss out on the most respected and best of all the many books written on options. If you're not willing to spend $ and a little effort to learn about options, you're not likely to profit from them. Buy the book. Then, sit down and read in it to find the definitive answers to your option questions. It simply doesn't get any more accurate, any clearer, or any better. (Oh yes, one or two reviewers suggested that the book is out of date.
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