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Description
The options investing bestseller—updated with new facts, charts, and strategies to help you beat today’s tough markets This new edition of Understanding Options provides all the basics you need to get started in the increasingly popular options market. Important new material includes overcoming assignment anxiety, LEAPS, the Greeks, protective and married puts, the collar, credit and debit spreads, straddles, the strangle, and options tips. Michael Sincere is a full-time columnist, writer, and author of numerous books, including Understanding Stocks and All About Market Indicators. Read more
Publisher : McGraw Hill
Publication date : January 6, 2014
Edition : 2nd
Language : English
Print length : 322 pages
ISBN-10 : 0071817840
ISBN-13 : 44
Item Weight : 2.31 pounds
Dimensions : 5.5 x 0.7 x 8.4 inches
Best Sellers Rank: #37,565 in Books (See Top 100 in Books) #5 in Futures Trading (Books) #9 in Derivatives Investments #10 in Options Trading (Books)
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Top Amazon Reviews
Format: Kindle
I read Sincere's first edition of this book years ago - and never bothered much with options, Certainly not the more advanced strategies. As I readdressed options recently, it became clear that this new edition was mandatory. Things change in the investment world - especially electronic trades - very rapidly. 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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Reviewed in the United States on January 25, 2014 by Borealis
Format: Paperback
I have been investing in common stocks, ETFs and mutual funds for a few years, but options were always intimidating. I have searched and read many “free” articles and pieces online. But nothing I have found put the whole package together for me and nothing I found breaks down actually how to make an options trade. UNTIL NOW… I received this book thinking ok, I will skim through and see what I can learn… but WOW, it actually is exactly what I have been searching for. I sat down and couldn’t peel away from this book today. As a true beginner, this book is written so clearly and the author has done a phenomenal job articulating what is perceived as a complex topic into terms and explanations I could read and understand. Granted, I have read plenty of other articles online, so had a basic understanding already, but this clarifies so much for me and validates what I thought I knew. I agree with some reviews that this is not for those who have been trading options for years. This is not a book about how to put your actual personal strategy together. This book teaches what options are, how they work, how you place a trade (literally step by step) and some risks that accompany them, but also some very practical advice for beginners. I say if you are a new options trader or simply considering it, this book is a great and cheap place to start.
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Reviewed in the United States on September 26, 2021 by M Hollis
Format: Paperback
I own both editions of Understanding Options by Michael Sincere. The second edition does add more relevant information. Let me tell you what this book is: it's a good thorough primer for beginning options traders. It explains what options are, how they work, fundamental definition/concepts, and the common strategies that are most widely used among option traders. Sincere presents this basic, albeit sometimes complex, material in a easy-to-understand format. He keeps things moving at a nice pace also that doesn't drag too much. What this book does not and is not suppose to do is teach you the way to trade options. You might understand options better by reading this book but do not think for a moment that, if you're new to the market and haven't yet mastered stock investing and trading, that for one second you'll get rich quick by reading this book. Options, after all, are derivatives of the underlying security. If you don't understand how to profit from the underlying then you're definitely not going to do well trading derivatives. Overall, it is definitely one of the better books I have read (and I've read quite a few) on basic and fundamental options education.
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Reviewed in the United States on June 29, 2016 by D. Smith
Format: Paperback
The teaching techniques used in this book are superb, engaging the reader with multiple examples tying every-day real life experiences to trading strategies and techniques. Complexity of the material is presented step-by-step, each new topic building slowly on the last. The author is humorous, self-deprecating, and obviously has thorough and practical knowledge of the options market. You get the sense reading this book that Mr. Sincere cares deeply about his readers losing money; at every opportunity he points out potential dangers, and minces no words describing how quickly a portfolio can be lost. The print quality is excellent. Fonts are comfortably large enough to be legible, and graphics are crystal clear and legible as well. If you are a new trader, or one with limited experience, you could not find a better primer than this one. An experienced trader might find the information too basic, and yet there are gems of wisdom to be found even for the old hand.
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Reviewed in the United States on May 21, 2022 by Education Forever
Format: Kindle
The writer does a really good job of making what could easily have become an arcane text that would replace a sleeping pill, into an interesting coherent book. The book can take a total novice and make her/him comfortable enough to take action and grow through experience and practice. The text provides good insightful comments and cautions as it moves the reader along through the aspects of option trading. An intermediate trader might find this a good text to look up some detail and clarify it in their mind. Specifically I like the ending section where the author provides further guidance for the reader to sources of information which are available and basically free. Bottom line: A well written book that (unlike some I've read) does not try to "hustle" a beginner into jumping into a tough business, but instead try to instill overall knowledge and insight mixed with some some common sense cautions and advice.
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Reviewed in the United States on April 21, 2016 by Professional Nomad
Format: Paperback
I have been a stick trader for some time and an investor even longer. I always wanted to get into options, but wasn’t quite sure how and where to start. I consider this book a detailed step by step guide, with detailed examples, providing the positive, neutral and negative side of each h options method. Detailed, but interesting, well written and easy to understand. Within days of reading the book I was selling covered calls like a seasoned vet, selling protective puts before market corrections and exploring spreads for profit. Truly a great read, a great book and worth 5 times the cost
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Reviewed in the United States on September 24, 2021 by JSan
Format: Paperback
This book is AMAZING! if this book was $100 I would pay for it, because it has already made me money. I have about 2 1/2 years experience in stock trading (buy and hold strategy) and options have always intimidated me. This book explains all the ins and outs of options so even a beginner with no experience in any stock trading strategy can understand. If you want to make best use of this book I recommend studying up on stock trading basics so this book's strategies will be easier to implement. I bought $MU puts right before earnings call and made 116% return on my first options trade. If you are a SERIOUS trader looking to become seriously EDUCATED in the market and options trading, I HIGHLY recommend this book, coming from someone who trades in the market everyday. Best thing about this book is that for just a few dollars, you get knowledge you will carry with you for the rest of your life and if you don't think that is worth it then you don't know the value of knowledge. Cheers and good luck to all.
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Reviewed in the United States on June 30, 2017 by Kevin Quintanilla
Format: Paperback
This is a very basic book that does not have much to offer a trader that understands the stock market already. I was disappointed. Chapters titled how to choose the best option basically just say it is up to you. There are no great secrets in this book and it does not address advanced strategies like butterflies in enough detail to help me.
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Reviewed in the United States on July 30, 2022 by CharlesC