Legendary trader Larry McMillan does it–again–offering his personal options strategies for consistently enhancing trading profits. Larry McMillan’s name is virtually synonymous with options. This "Trader’s Hall of Fame" recipient first shared his personal options strategies and techniques in the original McMillan on Options. Now, in a revised and Second Edition, this indispensable guide to the world of options addresses a myriad of new techniques and methods needed for profiting consistently in today’s fast-paced investment arena. This thoroughly new Second Edition features updates in almost every chapter as well as enhanced coverage of many new and increasingly popular products. It also offers McMillan’s personal philosophy on options, and reveals many of his previously unpublished personal insights. Readers will soon discover why Yale Hirsch of the Stock Trader’s Almanac says, "McMillan is an options guru par excellence."
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The McMillan name is virtually synonymous with options. Over the years, this legendary trader's popular and informative books, newsletters, and seminars have helped both new and seasoned investors use options to consistently enhance their trading profits.
McMillan first shared his personal options philosophies and techniques in the original McMillan on Options. Now, in his revised and expanded Second Edition, he reveals a number of new approaches for success in today's fast-paced and ever-changing investment arena.
By exploring both the flexibility and predictive ability of options, this highly revised resource will show you the best new ways to apply options to everyday trading situations. You'll quickly learn how to establish self-contained strategies, substitute options for other financial instruments and protect your positions -- whether in stock, index, or future options. More importantly though, you'll receive a complete education in the exciting new products that are popular with investors, from single-stock futures and exchange-traded funds to LEAPS and the brand new volatility futures.
Backed by over 100 case studies, updated charts, and new examples, McMillan on Options, Second Edition:
--Illustrates how a stock can be "pinned" to a striking price at expiration, what causes it, and when to expect it
--Discusses put-call ratio charts and theory on individual stocks
--Examines how to use volatility indices as an accurate market predictor
--Adapts trading systems and strategies (such as intermarket spreads and seasonal trading systems) to the realities of a new market environment
--Presents advanced approaches to options trading, including the concepts of expected return and Monte Carlo probability simulation
--Offers guidance for those who need to find reliable options trading data and tools online
This timely Second Edition also expands on discussions regarding the NYSE as a faulty indicator, the history of market volatility, and the importance of buying and selling volatility.
Readers can now gain a unique insight into McMillan's personal philosophy on options, and discover the innovative new tactics and strategies he applies to his own trading and analysis. Packed with hands on examples and techniques that address hedging and volatility -- plus fresh new pricing concepts -- this comprehensive and updated work will help you understand and unleash the full power of options.
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Table of Contents:
List of Figures.
1. Option History, Definitions, and Terms.
2. An Overview of Option Strategies.
3. The Versatile Option.
4. The Predictive Power of Options.
5. Trading Systems and Strategies.
6. Trading Volatility and Other Theoretical Approaches.
7. Other Important Considerations.
Appendix A: Listed Index and Sector Options.
Appendix B: Futures Options Terms and Expirations.
Appendix C: Option Models.
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After seven years, Larry McMillan releases the revised second edition of his all-time classic book McMillan on Options. The new edition is revised to cover the latest trading vehicles and applications, including exchange traded funds, electronic trading, single stock futures and volatility futures.
Reflecting today’s market realities and the new innovative options products available, this second edition features an in-depth analysis of practical option trading approaches. Plus, techniques for actual trading situations, many of them derived from the McMillan’s personal viewpoint and years of trading experience.
Plus, this revised edition features:
- Updated information on how a stock can be “pinned” to a striking price at expiration, what causes it and when to expect it
- The critical role of using options as a hedging vehicle for professional stock owners
- Examines put-call ratio charts and theory on individual stocks
- How to apply the use of trading systems, intermarket spreads and strategies in today’s marketplace
- Insight on the advanced approach to option trading in the area of statistics and probability
- Illustrations of expected return concepts and the Monte Carlo probability simulation
- Insight on the use of data and tools found on the Internet
McMillan delivers, yet again! Seasoned professional traders will have no trouble getting up to speed and novice traders can understand and implement the five major sections as he reveals definitions and reviews option strategies to help them understand the fundamental basics.
McMillan fans have been waiting for a new edition that explores some of the many ways in which options can be used for today’s modern option trader. This book will help bring more traders into the option markets and get them on the road to manage and enhance trades profitably.
"When it comes to options trading education, no one is more respected than Larry McMillan. With all the new innovations in the options arena over the past decade, this revised edition of his classic work is a must-have for ardent options traders and novices alike" – Price Headley, President and Founder, BigTrends.com
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