Rating: 
Summary: Great for professionals but not for individual investors....
Review: This book is a must read for professional option floor traders and clerks at CBOE. If your interest lies in how options are actually priced and want information on the effect of volatility
on options pricing , it is the book to read.
If you are an individual investor trying to use simple option strategies to enhance your stock profits and recover your losses , this book will be too detailed and theoretical. In this case I would recommend "Generate thousands on your stocks without selling them" where the author focuses more on practical simple strategies to recover losses and enhance stock profits using options. Also "Rule the Freakin markets" where you can get the trading savvy and psychological edge .
Rating:
Summary: EXCELLENT!
Review: THIS BOOK IS WORTH EVERY PENNY! Mr. Natenberg did a great job explaining volatility and its relationship with option pricing. Guess what? He wrote this book without leading you to subscribe to a fax (e-mail) service or attend a course!....nice for a change!
Rating: 
Summary: Good High Level book
Review: This is a good book if you are just starting out and don't want a lot of mathematics. Gives strong high level understanding of how options work. Especially good descriptions of greeks and their behaviors.
Rating:
Summary: Good High Level book
Review: This is a good book if you are just starting out and don't want a lot of mathematics. Gives strong high level understanding of how options work. Especially good descriptions of greeks and their behaviors.
Rating:
Summary: Real Stuff
Review: This should not be your first book on options, but it should be your first book before you trade options. This is the real-deal, the tuff-stuff, the holy grail. If you can't understand Ratio Backspreads as explained don't trade options because the players understand perfectly. This is a book to buy and read and study, and read and study, and read and study, It's not easy but it's the facts. If this sounds to tough I suggest a Wade Cook book if you want something an idiot could understand. But that won't make you any money, with this one you have a shot
Rating:
Summary: Required Reading
Review: While sometimes dry, this book is absolutely essential for options traders. It was the only textbook for my firm's option market-maker training. Put it this way, most of the guys taking the other side of your trade have read Natenberg, and it's not a coincidence.
Rating:
Summary: Great book for prospective traders
Review: With the popularity rise in options and option strategies, I must admit this is a great book to get started with. I am a clerk at the CBOE and have studied this book thoroughly, and in my experience it's the best options tutorial out there. I have also sampled the John Hull book and the official Options Institute book. The writing is very readable and it does not bog you down with overly complex derivations of each formula (there is an appendix that does derive and explain the details of the Black and Scholes model though.)If you're serious about trading I highly recommend reading this book first - it'll be a useful tool. Working at CBOE I have seen many other clerks studying their Natenberg books during the slower times. Learning arb (hand signaling) and understanding what you are arbing are the keys for a successful options trader. This can be useful for someone just getting started in options as well or with prior experience.
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