Getting Started in Options (Getting Started In.....)
by Michael C. Thomsett
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Book Summary Information
Author: Michael C. ThomsettEdition: Paperback
Audio: English (Original Language); English (Unknown); English (Published)
Published: 2007-08-31
ISBN: 0470138068
Number of pages: 383
Publisher: Wiley
Book Reviews of Getting Started in Options (Getting Started In.....)
Book Review: Very good introduction to options trading
Summary: 5 Stars
I have been investing for a few years and wanted to start trading options. After much looking I settled on "Getting Started in Options" and I don't regret it one bit. The book is very well organized and there are tons of examples. For example during the chapter on puts Thomsett puts in examples of all of the strategies he explains. And he does this in every chapter to help illustrate the point he is trying to make. He explains how you will make money with each method and how you will lose money. He even talks about researching companies in which to invest. I think this could have been left out since you should be familiar with stock investing before you start with options but this is really just a gloss over and you will need to read other books for any decent level of detail. In the later chapters he discusses numerous different spreads and how they play out.
If I was to complain about the book it would be the numerous spelling and occasional math errors. But if you are following along you will be able to spot them and figure out what the correct calculation/word is supposed to be. While I would usually deduct a star for this type of oversight it really isn't significant enough considering the wealth of knowledge contained in the book.
If you read some of the negative reviews they state specific problems people found with this book. Those reviews were of previous editions. With this latest edition (seventh edition) most of the complaints previous reviewers have stated have been addressed and the book is very good.
Bottom line: If you have limited or no knowledge of options this is a great start. After reading this you will have an excellent understanding of options and be ready for books covering advanced topics. The author has addressed the shortcomings of previous editions and has made a book that should be on the shelf of every options investor.
Summary of Getting Started in Options (Getting Started In.....)
Discover the Dynamic World of Options InvestingGetting Started In Options
Seventh Edition
Many people fail to capitalize on the potentially lucrative opportunities that options present, simply because they don't fully understand how options work. But with Getting Started in Options, Seventh Edition, author Michael C. Thomsett looks to change this.
Written in a straightforward and accessible style, Getting Started in Options, Seventh Edition provides you with a solid foundation in this field, and will help you become fully familiar with one of today's most important investment vehicles. Each page of this informative guide addresses essential options issues, including how to:
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Identify your own risk tolerance levels and decide how to effectively incorporate options into your own portfolio
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Master options terminology and concepts
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Use options in a powerful insurance strategy to protect against losses in stock investments
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Perform "paper trades" before putting real money at risk
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Utilize the many new online resources available to you
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Understand time values, striking price, and expiration
Besides new examples, updated charts, and timely investor tips, this latest edition also includes important new chapters that reflect ongoing innovations within the options market, such as the many uses of options beyond their obvious buying and selling functions, different methods available to calculate returns on options trades, and much more.
You don't need to be a financial expert to make it in the world of options, but you do need to be well informed. With Getting Started in Options, Seventh Edition as your guide you'll quickly discover how to make options work for you.
Anyone mystified by stock options or who simply dismisses them as too speculative will find Getting Started in Options an excellent first read on the subject. Beginning with the premise that it's not the complexity of the investment but that of its language that makes options difficult for new investors to understand, author Michael C. Thomsett has created a guided tour through the lexicon. The result is a nontechnical introduction to these specialized markets.
The book carefully and completely defines the terminology, explains options investing step by step, and presents strategies so that it is easy to understand at each level of risk involved. Choosing the right stock, buying and selling options, and combining techniques are all covered in increasing complexity, but this is a book for beginners, and those with basic knowledge of the subject will want to seek out more advanced reading.
The biggest drawback of this book is that, for some reason, the text is printed in green ink, making it somewhat more difficult to read and probably impossible for those who are green-colorblind. Publisher, take note! --Scott Harrison
Options Books
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