Rating: 
Summary: Outdated material
Review: Very average book. Dry, technical and not linked to a practical application of the subject. Although it covers all the subjects if you don't have a PHD then you won't be able to apply the instruction. It is far to complicated for the average person.R. Douglas, Ontario
Rating: 
Summary: Required Reading for the Options Professional!
Review: When I began trading options on the floor of the Chicago Board Options Exchange (early 1980s) an earlier edition of this book was the most complete options reference manual available. Ditto for the current edition. I'll admit that the book is rather dry, but I am curious as to the expectations of some readers who wrote reviews. Do they need reference works to provide them with stimulating prose? If you want an options manual you will return to time and time again, buy this book. True, the bulk of the material is theoretical, but so is every options valuation model in existence. The hedge ratio of an option (delta) is theoretical too, but understanding the hedge ratio gives rise to many applications. Those of you who want interesting trading "stories" read "Reminiscences of a Stock Operator". Those who want track records read my Disclosure Document. Those who believe "striking price" is not correct terminology should call the Options Institute as some of the questions on the required entrance exam for perspective market makers at the CBOE commonly refer to "striking price". If you are looking for applications in lieu of foundational knowledge, buy a "black box" system. For those readers who want to understand options well enough to design their own trading systems, this book is the best. I will venture to guess that those critical individuals who do not want to understand the theoretical aspects of options also believe that PE ratios don't mean anything anymore. If this sounds like you, consider hiring a professional to trade for you. If not, I hope to trade with you soon.....and then we'll have lunch. Yours!
Rating: 
Summary: This is the one I recommend to my friends
Review: When you're done "playing" with options and are ready to "get serious" with them, this book is a must. It explains how option strategies can be used in all kinds of situations. I like the sections on how to recover if the stock price doesn't move in the direction you predicted, as well as what to do as the expiration date draws near. It is a bit dry, so read it in small doses.
Rating:
Summary: This is the book I need
Review: Yes this is the practical book one need to trade in options. As a true option player, I find it unnecessary to understand the mathematics behind in depth. What you need are PRACTICAL strategies. This book provides tons of strategies, especially in profit-locking and position-salvaging, the most difficult part in practical trading. A must for all beginners.
Rating:
Summary: The best options book
Review: You can still lose money following option strategies (and I guess most people do), but at least you'll understand what your choices are. This book is somewhat encyclopedic, but I enjoyed its no nonsense approach. It contains all the information one needs to know about options. Clearly written. Without a doubt the best investing book I've read.
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