--- product_id: 1704909 title: "Options as a Strategic Investment: Fifth Edition" price: "437.13 DT" currency: TND in_stock: true reviews_count: 8 url: https://www.desertcart.tn/products/1704909-options-as-a-strategic-investment-fifth-edition store_origin: TN region: Tunisia --- # Options as a Strategic Investment: Fifth Edition **Price:** 437.13 DT **Availability:** ✅ In Stock ## Quick Answers - **What is this?** Options as a Strategic Investment: Fifth Edition - **How much does it cost?** 437.13 DT with free shipping - **Is it available?** Yes, in stock and ready to ship - **Where can I buy it?** [www.desertcart.tn](https://www.desertcart.tn/products/1704909-options-as-a-strategic-investment-fifth-edition) ## Best For - Customers looking for quality international products ## Why This Product - Free international shipping included - Worldwide delivery with tracking - 15-day hassle-free returns ## Description desertcart.com: Options as a Strategic Investment: Fifth Edition: 9780735204652: McMillan, Lawrence G.: Books Review: The Best Reference Book on Options Bar None - I bought the 2nd edition when it was published in 1988. It is the best reference there is on options in my opinion and should have a place in every serious options traders’s library. I just bought the 5th edition published in 2012 which is a whopping 1000+ pages, over 300 more than the 2nd edition. It has been upgraded and modernized to reflect significant changes in the options markets over the past 35+ years. It is not meant to be read cover to cover, although I’m sure some options braniacs do. It also may be over the head of the novice or someone who has never traded options before. If you are new to options, there are a plethora of videos for beginners and that is where I would suggest you start. While it does start with basic options fundamentals, it quickly delves into level II and level III options strategies. The new edition covers the newer advanced options strategies, how options pricing has changed, index options, futures options, new margin requirements and tax treatment of options income. I am retired and my day job is to actively manage the family retirement portfolios. I use options mainly for high probability low risk passive income and hedging. Options as a Strategic Investment is an indispensable reference resource for any serious options trader, professional, or someone who actively manages their growth or retirement portfolio. Review: THE Text Book, Only If You Are Serious - This is the ultimate book on options and well worth the cost and effort to read it. Few people will ever want to read the entire book. Read the sections that match your option interest and investment strategy. An option position can be a safe and secure part of your investment portfolio management, adding income, protecting gains and avoiding heavy losses. At the same time an option position can be very risky with the possibility for unlimited losses. There's lots of hype floating around on making big money trading options. Beware the hype. This is not that book. This book has all the basics, read those sections. Go back and read them again. Explore the more complicated strategies more slowly. If you want to dig into real detail and the mathematics, it's there if you want it. This book would be the obvious choice for a two semester sequence as part of an undergraduate or graduate fiance program. At the same time if the extent of your interest is limited to buying puts and calls, generating income through covered calls and maybe buying stocks at lower prices through short puts, this book should still be in your library. If you have enough money to feel comfortable with the more risky aspects of options (100% losses sometimes) you certainly can afford to buy this book. In spite of the detail provided, each chapter is well written and not difficult to digest. It's the totality of the subject and the wide variety of trading strategies, some of which are complex and should be undertaken only by those with discipline and self confidence. I found this book a perfect companion to pursuing options trading through a free, on-line program offered by the Chicago Board of Options Exchange (CBOE). This is a program of on-line self training, with a certification test for each training module and a series of comprehensive tests for the basic, intermediate and advanced certification level I have completed most of the modules and concluded that many of the more complex strategies should be left to the real experts. Again, like this book, go with what you are comfortable with. ## Technical Specifications | Specification | Value | |---------------|-------| | Best Sellers Rank | #26,952 in Books ( See Top 100 in Books ) #14 in Options Trading (Books) #55 in Systems & Planning #121 in Introduction to Investing | | Customer Reviews | 4.7 4.7 out of 5 stars (1,026) | | Dimensions | 7.72 x 2.28 x 9.53 inches | | Edition | 5th | | ISBN-10 | 0735204659 | | ISBN-13 | 978-0735204652 | | Item Weight | 4.26 pounds | | Language | English | | Print length | 1072 pages | | Publication date | August 7, 2012 | | Publisher | Prentice Hall Press | ## Images ![Options as a Strategic Investment: Fifth Edition - Image 1](https://m.media-amazon.com/images/I/81Mh0tWyfAL.jpg) ## Customer Reviews ### ⭐⭐⭐⭐⭐ The Best Reference Book on Options Bar None *by C***D on September 21, 2025* I bought the 2nd edition when it was published in 1988. It is the best reference there is on options in my opinion and should have a place in every serious options traders’s library. I just bought the 5th edition published in 2012 which is a whopping 1000+ pages, over 300 more than the 2nd edition. It has been upgraded and modernized to reflect significant changes in the options markets over the past 35+ years. It is not meant to be read cover to cover, although I’m sure some options braniacs do. It also may be over the head of the novice or someone who has never traded options before. If you are new to options, there are a plethora of videos for beginners and that is where I would suggest you start. While it does start with basic options fundamentals, it quickly delves into level II and level III options strategies. The new edition covers the newer advanced options strategies, how options pricing has changed, index options, futures options, new margin requirements and tax treatment of options income. I am retired and my day job is to actively manage the family retirement portfolios. I use options mainly for high probability low risk passive income and hedging. Options as a Strategic Investment is an indispensable reference resource for any serious options trader, professional, or someone who actively manages their growth or retirement portfolio. ### ⭐⭐⭐⭐⭐ THE Text Book, Only If You Are Serious *by R***N on October 26, 2020* This is the ultimate book on options and well worth the cost and effort to read it. Few people will ever want to read the entire book. Read the sections that match your option interest and investment strategy. An option position can be a safe and secure part of your investment portfolio management, adding income, protecting gains and avoiding heavy losses. At the same time an option position can be very risky with the possibility for unlimited losses. There's lots of hype floating around on making big money trading options. Beware the hype. This is not that book. This book has all the basics, read those sections. Go back and read them again. Explore the more complicated strategies more slowly. If you want to dig into real detail and the mathematics, it's there if you want it. This book would be the obvious choice for a two semester sequence as part of an undergraduate or graduate fiance program. At the same time if the extent of your interest is limited to buying puts and calls, generating income through covered calls and maybe buying stocks at lower prices through short puts, this book should still be in your library. If you have enough money to feel comfortable with the more risky aspects of options (100% losses sometimes) you certainly can afford to buy this book. In spite of the detail provided, each chapter is well written and not difficult to digest. It's the totality of the subject and the wide variety of trading strategies, some of which are complex and should be undertaken only by those with discipline and self confidence. I found this book a perfect companion to pursuing options trading through a free, on-line program offered by the Chicago Board of Options Exchange (CBOE). This is a program of on-line self training, with a certification test for each training module and a series of comprehensive tests for the basic, intermediate and advanced certification level I have completed most of the modules and concluded that many of the more complex strategies should be left to the real experts. Again, like this book, go with what you are comfortable with. ### ⭐⭐⭐⭐⭐ This is the ONE *by U***3 on December 18, 2021* This should not be your first book on options. It will demoralize and kill your enthusiasm if you do not minimally have a working knowledge of puts/calls. If you have that basic knowledge, and if you really want to learn about options, this is the approved textbook. What Frank J. Fabozzi is to Mortgage Backed Securities (MBS) and Asset Backed Securities (ABS), Lawrence McMillan is to Exchange Traded Options. This book is not a particularly fun read nor a breezy one. It is not a get-rich-quick program. However, it is a mountain of useful, detailed knowledge. You will approach this book like you would a college class - graduate level. It will take work and dedication to accomplish. You do not need to a rocket scientist to understand what McMillan is teaching you. You need patience. You'll get it - he'll teach you. You will be rewarded with an understanding of the capital markets that very few comprehend. From that point, you'll probably look with disdain upon so many of those books that offer systems or guides to the options market. You will know more than those authors, and you can create your own system - with Confidence. I am an expert in options (exchange and OTC), swaps, derivatives, MBS, and CLOs, and I recommend this book. ## Frequently Bought Together - Options as a Strategic Investment: Fifth Edition - Study Guide for Options as a Strategic Investment 5th Edition - Option Volatility and Pricing: Advanced Trading Strategies and Techniques, 2nd Edition --- ## Why Shop on Desertcart? - 🛒 **Trusted by 1.3+ Million Shoppers** — Serving international shoppers since 2016 - 🌍 **Shop Globally** — Access 737+ million products across 21 categories - 💰 **No Hidden Fees** — All customs, duties, and taxes included in the price - 🔄 **15-Day Free Returns** — Hassle-free returns (30 days for PRO members) - 🔒 **Secure Payments** — Trusted payment options with buyer protection - ⭐ **TrustPilot Rated 4.5/5** — Based on 8,000+ happy customer reviews **Shop now:** [https://www.desertcart.tn/products/1704909-options-as-a-strategic-investment-fifth-edition](https://www.desertcart.tn/products/1704909-options-as-a-strategic-investment-fifth-edition) --- *Product available on Desertcart Tunisia* *Store origin: TN* *Last updated: 2026-06-03*