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Save the chapters on Volatility Derivatives, Ratio Spreads, and Index Arbitrage for when you have at least six months of live trading experience. options as a strategic investment fifth edition pdf reddit
First published in the 1980s and now in its fifth edition, the book has retained its relevance through timeless principles and deep market understanding. While some examples may feel dated, the core strategies remain universally applicable, as McMillan consistently connects concepts to fundamental market behaviors that endure across any environment. This single thread encapsulates the entire lifecycle of
: It is often recommended as an advanced text; beginners may benefit from a basic understanding of calls and puts before diving in. Long-Term Relevance First published in the 1980s and now in
: Extensive breakdowns of complex spreads, straddles, and combinations.