Looking for Classic Options Books

S

sharrig

Over the past couple of years I have purchased a number of books relating to Traded Options. I now wish to expand my collection further.

As there are literally thousands of books available I would only wish to purchase what would be considered as " the top five or less classic books" within the the traded options community. Any ideas ?

The topics should cover:-

1) Trading
2) Psychology
3) Financial Analysis

Thanks for your help

Steven
 
retail traders seem to love McMillan

professional traders seem to love Natenberg (link)

off the beaten path perhaps, is the iconoclastic book by Katz and McCormick (link) which I really like but few others tend to put in their top five.

finally there is the curious case of William Gallacher. He spewed forth venom and bile in his first book, screaming at the top of his lungs that fully mechanical "trading systems" were idiotic lunacy and completely fraudulent. Then comes his second book in which he presents a fully mechanical trading system for options (!) and eats a little crow.
 
Quote from MGJ:

finally there is the curious case of William Gallacher. He spewed forth venom and bile in his first book, screaming at the top of his lungs that fully mechanical "trading systems" were idiotic lunacy and completely fraudulent. Then comes his second book in which he presents a fully mechanical trading system for options (!) and eats a little crow.
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Interesting tip, thank you,

Ursa..
 
I'm sorry I have to point it out...did anyone actually READ the reviews???? Feb 26 1999..
"As a professional I respect the accuracy of the book. As an investor I enjoyed Wade Cooks "Wall Street Money Machine" more. " :eek:
 
Quote from nazzdack:

Natenberg, then Cottle
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Natenberg is a classic basic book. Cottle is fun, but pretty muddled and "quirky" for anyone not obsessed with options.

A good set of mid-level books after macmillan and natenberg would include baird and possibly taleb's "dynamic hedging" although even taleb can be confusing if you don't have solid basics.

You might want a primer on probability theory, like some of wilmott's texts. Pretty academic, but important to have a sense of probability, which is often very counter-intuitive.
 
Quote from RichardRimes:

I'm sorry I have to point it out...did anyone actually READ the reviews???? Feb 26 1999..
"As a professional I respect the accuracy of the book. As an investor I enjoyed Wade Cooks "Wall Street Money Machine" more. " :eek:
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Yes that reviewer was disappointed because Gallacher was shooting for 20% per year, when (the reviewer thought) 400% was more realistic.
 
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