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Options Trading 101: From Theory to Application | 
 enlarge | Author: Bill Johnson
Publisher: Morgan James Publishing
Category: Book
List Price: $29.99
Buy New: $19.02
You Save: $10.97 (37%)
New (14) Used (4) from $19.02
Rating:  15 reviews
Sales Rank: 150525
Format: Illustrated
Media: Paperback
Pages: 449
Number Of Items: 1
Shipping Weight (lbs): 1.8
Dimensions (in): 9.9 x 7 x 1.1
ISBN: 1600372376
Dewey Decimal Number: 332
EAN: 9781600372377
ASIN: 1600372376
Publication Date: October 1, 2007
Availability: Usually ships in 1-2 business days
Shipping: International shipping available
Condition: Brand new item. Over 4 million customers served. Order now. Selling online since 1995. Few left in stock - order soon. Code: I20090102032137S
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Product Description
Discover Powerful and Profitable Option Trading Strategies That Can Limit Your Risk While Multiplying Your Profits in Today's Markets. Options Trading 101 was written as a complete introductory guide for investors and traders who want to understand the world of options. While it is labeled as an introductory book, it is anything but a general overview. It starts by exploring the most fundamental concepts of options trading and ends with some basic strategies that traders will fully understand and be able to use immediately. In a clear, concise way readers will be led through the most important topics that are necessary to master and advance with options trading. Options Trading 101 makes use of many fun examples including Gordon Gekko's mistake in the hit movie "Wall Street" from not understanding put-call parity.
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| Customer Reviews: Read 10 more reviews...
Very Good Introduction to Options, Marred by Poor Proofing December 22, 2008
Damacus (Buffalo Grove, IL United States)
I could not put this book down. The text is very accessible and makes for quick reading. It contains a mountain of information that will serve any option (or stock) trader quite well.
This isn't an "options playbook" or list of strategies, though it provides some. More importantly, this is a book that answers a lot of fundamental questions about how options are priced, why there isn't any free money (good coverage of arbitrage and the function of market makers,) volatility, synthetic options, leverage, the meaning and usage of some of the more common metrics and indicators available when looking at options chains, and then covering the mechanics of working with options and how rights/obligations are dealt with and how these processes translate to orders given to your broker.
With this information, you are well-armed to learn pretty much any specific strategy from a playbook, and will have the requisite know-how to pick up and understand all those other strategies with very little effort. The chapter key-points, quizzes and then answers are an excellent way to spot-check your comprehension.
Mostly it's done very well.. HOWEVER, the quizzes/answers were poorly proof-read by quality control. There are several instances of blatantly incorrect answers provided (because the answer wasn't for the question posed) or in one case, the answer section restated the question rather than answering it! There were a few instances where the options chain image didn't match the values being discussed in the text.
The mistakes in the Q&A self-review sometimes end up costing the reader extra time in re-reading the question, answer, and previous chapter's text/graphs. There is a seed of doubt in later readings where you wonder if you've encountered another editorial error, or if you have a genuine misunderstanding of the material. It's quite undesirable when you're new to the material. Thankfully in most cases, the correct answer is discernible quickly, but I feel these mistakes should have been caught before publication, and feel OptionsUniversity or MorganJames needs to put out an errata document for the first edition and consider releasing a second edition.
In spite of this, the actual number of errors isn't terrible. Because the book is highly accessible and easy to read, and a very enlightening primer that I would without hesitation recommend to a friend (of course telling them in advance there are a few minor errors with graphs not matching text or mistakes in later self-reviews.)
Really wanted to give this one 5 stars, but knocked it to 4 due to editing errors.
 Proofreader was AWOL July 7, 2008
Richard A. Morgan (Indianapolis, IN USA)
3 out of 5 found this review helpful
This book had so many errors and blatant contradictions it was more confusing than the genealogy of Jesus. It will have your head spinning so fast some may mistake you for Linda Blair! The author blitzes the reader with math and details the understanding of which simply is unnecessary in order to trade options and could easily intimidate someone new to trading. The excessive errors found throughout the text are inexcusable, especially for a technical book. When practical applications are finally covered in the final third of the book, we aren't presented with anything really interesting. The Iron Condor strategy is mentioned once earlier but is quickly dismissed in a condescending manner as if someone who could thread through all that math wouldn't easily pick up that relatively simple concept! If you are new to trading and don't want to be more confused after you read this book than before you picked it up, this one should be avoided.
 Awesome book July 4, 2008
Rafael A. Paulino (São Paulo, SP, Brazil)
A very good book. Written in a very easy way. Just can't stop reading it.
Excellent Material, but needs Indexing June 22, 2008
reader (st. louis, mo)
I'm a newbie to options and find this book very understandable. The analogies in the book help one understand the nature of options.
My only criticism is that the book is not indexed. If I want to review a certain concept, sometimes it's difficult to relocate it because there is no index.
Excellent material but needs better proofing. June 14, 2008
Dean A. Everhart (NY)
Bill Johnsons Options 101 trading book is an excellent introduction to the how's and why's of option trading. The style of this book is exactly like many college math and science textbooks with examples and problem sets. I personally have benefited from the discourse on the "roll-up," which is a strategy I had not come across previously in other training material.
The book suffers, however, from poor proof-reading of the arithmetic. There are many places where the numbers don't add-up to what the words are saying, and vice-versa. Some may find that scribbling the corrections in the margins improves comprehension but if your arithmetic skills are weak then this book may not be for you. I think Options Trading 101 deserves a 2nd edition to correct the errors.
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