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Understanding Options 2E Paperback – January 6, 2014
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From the Publisher
Michael Sincere is a full-time columnist, writer, and author of numerous books, including Understanding Stocks and All About Market Indicators.
About the Author
- Item Weight : 11.7 ounces
- Paperback : 320 pages
- ISBN-10 : 0071817840
- ISBN-13 : 978-0071817844
- Publisher : McGraw-Hill Education; 2nd edition (January 6, 2014)
- Dimensions : 5.5 x 0.7 x 8.4 inches
- Language: : English
- Best Sellers Rank: #23,388 in Books (See Top 100 in Books)
- Customer Reviews:
Top reviews from the United States
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This book is very easy to read and provides a wealth of information. This is one of a few books that I keep handy to use a reference when doing my own practicing with stock option trading or when reading other books. So far I am still focusing on the easier options trading strategies so I have not done more than a cursory read of the more advanced strategies because it is too soon for me to even worry about those. I have to master the easier strategies before moving on to more difficult trades.
Things get really interesting at the point where the discussion of Bear Call Spreads and Bull Put Spreads begin. My only criticism with this book is that many of the examples are verbal and can be hard to conceptualize. The overall strength of the text would be improved by including more graph and/or purchase screens showing how each order is entered and exited.
I've also read Understanding Stocks by Michael Sincere and I'm a huge fan of his simple, friendly approach to discussing equities, ETF's and options trading. If you're looking for a great overview on how options work, this is the THE text. You'll want to supplement concepts in the text with paper trading to learn the ropes.
The author also provides insight into what, for beginning users of options, might be poor ways to use them and suggests that whatever you do that you have a plan both about starting a play and then ending it. Besides that I like that in every scenario that he discusses he constantly reminds then reader that option trading is very risky.
I didn't know anything about options, and I was shocked to find out that they can actually reduce the risk in a portfolio, rather than adding to it. It's a very practical, down to earth book that I know I'll be referring back to as my expertise grows. Right now, I'm just selling covered calls.
Sincere's style of writing is clear, concise and very easy to read and follow. Terminology is explained in simple terms - he does a good job of assuring the reader that one will not get boggled in technical terms. As he says ... one doesn't need to understand a combustable engine to drive a car.
Sincere develops the chapters very well, progressing from topic to topic in an understandable and fluid manner.
As he suggests, one must be familiar with stocks, the market, and trading in general, before reading this book. There are many stock market and investment books available as primers, including one by the same author. Read and know investing before you start this book.
Understanding Options is a primer for the beginning option investor, as refresher for the more experienced, and covers very technical and advanced strategies for the seasoned investor.
My first edition - being in book form - is highlighted and dog eared. This edition I bought electronic - easy to read and many links are included which make it nicer to move within the volume to various topics. Of course it can still be 'page marked' and sections saved and highlighted for rereads.
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What did this reviewer find objectionable about the author's writing style? If you said, "He doesn't like the way the author asks condescending questions," then you would be right.
This doesn't reinforce the learning. It's just annoying.
My major objection is the lack of visuals. There are a lot of important charts for options trading that help to demonstrate the risk-payoff profiles of various trading strategies and those could have been used throughout the book to help the reader better visualize the differences between those strategies.
With that point aside, I should say the book introduces a series of resources at the end that are invaluable for advancing your learning after the book is finished. I highly recommend this book just to get a list of those resources.