Options As A Strategic Investment 6th Edition 🎯 High Speed

Rating: 4.7/5 (Essential reference, but heavy reading)

McMillan is a mathematician, not a therapist. There is almost no discussion of trading psychology, position sizing, or the emotional discipline required to hold a losing short strangle. You’ll need another book (e.g., Trading in the Zone ) for that. Who Is This Book For? | You should buy it if… | Skip it (for now) if… | | --- | --- | | You have 6+ months of options experience and keep losing money | You just learned what a "call option" is yesterday | | You want to trade premium (sell options) or volatility | You only buy OTM calls/puts for lottery tickets | | You need a reference to keep on your desk, not a beach read | You hate math beyond 6th grade arithmetic | | You trade weekly or monthly options regularly | You prefer video courses over dense text | Final Verdict Options as a Strategic Investment (6th Ed) is the gold standard reference . It won’t make you a profitable trader overnight—only screen time and risk management will do that. But it will arm you with the vocabulary, the logic, and the strategic toolkit to understand why you won or lost money. options as a strategic investment 6th edition

Unlike 90% of options books that focus on direction (will the stock go up or down?), McMillan hammers home the importance of implied volatility and historical volatility . He treats options as tools to bet on mispriced uncertainty , not just stock movement. His discussion of volatility skew and term structure is worth the price of admission. Rating: 4

Buy it. Read it in small chunks. Keep it on your desk. When you blow up a trade, flip to the chapter on adjustments. It will pay for itself in saved losses within a month. Who Is This Book For

The book says it’s for "novices to experts." The first few chapters on basic calls and puts are fine for a newbie. But by Chapter 4 (Spreads), the pace accelerates rapidly. A true beginner would be better served by something like Options as a Strategic Investment paired with The Rookie’s Guide to Options (or a free online course). Alone, it will overwhelm you.