Most helpful critical review
123 of 131 people found the following review helpful
on September 17, 2008
When I bought this book, I was expecting really in-depth analysis of various Greeks and their effects on basic option positions as well as complex spreads. However, I was bit disappointed.
If you have read any decent preliminary option trading books (Natenberg, McMillan et al) or if you have been trading option spreads for say 1+ year, this book would be useless. In aggregate there would be about 10-12 page material which may useful for such people. Last chapter on relationships between implied and realized volatility is OK.
For some reason the author has morbid fear for graphs of positions and greeks. He ends up giving tables after tables to illustrate effect of various greeks on option position.
If you are at a stage where you think I buy call option when I am bullish and I buy put option when I am bearish, this book will help you understand the effects of other equally important variables in pricing and trading, but then there are so many other which give this information in a better fashion in my opinion.