Description:The book is a very good introduction of options for the very beginners. You won't find there advanced strategies like "Short Iron Butterfly", but the basic strategies are covered in a very friendly matter. The book assumes that you are already familiar with the stock market to some extent and have traded stocks but not options. If you need a much deeper book on options, I would recommend "The Options Course" by George A. Fontanills and Richard Cawood.
Pros:
- Simple strategies like selling covered calls vs naked calls are very well covered;
- The book is quick to read, only the most essential topics are covered, in concise way.
Cons:
- Appendix chapters about selecting the right broker, or about computer software, are outdated;
- An important technique of selling puts as a way of buying the underlying security is not covered in this book. If you are interested in this issue, read chapter 19 of "Options as a Strategic Investment" by Lawrence G. McMillan.
- Doesn't have a single reference to other books.