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The 8 Best Options Trading Books of 2023

Sebencapital

Published
22/12/23
The 8 Best Options Trading Books of 2023

Options trading might seem daunting, but it's a crucial part of a balanced investment plan. An option lets investors buy an asset on an agreed date and price, but they're not obliged to do so. When used right, options can be low-risk for investors. Yet, many keen investors overlook options trading. Surprisingly, just 18% of surveyed individuals regularly invest in options. Find out more about options trading by exploring our recommended books on the topic.

Discover more about options trading through our recommended selection of top books on the subject.

Best Overall: Options Trading Crash Course

The 8 Best Options Trading Books of 2023

Explore Frank Richmond’s “Options Trading Crash Course,” a comprehensive guide that delves into various aspects of the options market. This book covers different types of trades, strategies to enhance returns, ways to identify patterns, and smart investment approaches. It's beginner-friendly, providing essential definitions without complex language, offering a clear path to potential profits. Richmond, known for his works on "Forex Trading" and "Exposing Blockchain," delivers valuable insights for investors aiming to navigate the options trading world.

Best on Strategy: The Options Playbook

The 8 Best Options Trading Books of 2023

Brian Overby's book, "The Options Playbook," is tailored for investors seeking to enhance their options market strategies. It outlines 40 of the most commonly used options strategies and provides a step-by-step guide on executing them. Overby dives into crucial aspects, such as the significance of implied volatility, pricing factors (known as Greeks), and the impact of time decay on implied volatility. As a senior options analyst at Ally Invest, Overby's book is a valuable resource for investors looking to refine their options trading skills.

Best for Strategic Thinkers: Options as a Strategic Investment

The 8 Best Options Trading Books of 2023


Lawrence McMillan's renowned book "Options as a Strategic Investment," now in its fifth edition, caters to investors already familiar with options trading. This comprehensive guide delves into various strategies for navigating the options market. It covers advanced topics like proven tools to boost returns and mitigate risks, strategies for Long Term Equity Anticipation Securities (LEAPS), methods for neutral trading, insights into Preferred Equity Redemption Cumulative Stocks (PERCS), and details about futures and futures options. McMillan, who also authored "McMillan On Options" and "Profit With Options," offers valuable insights through his daily advisory service, Daily Volume Alerts.


Related: the Top Investment Books

Best for Advanced Traders: Option Volatility and Pricing

The 8 Best Options Trading Books of 2023

Sheldon Natenberg’s “Option Volatility and Pricing” is a go-to book recommended for beginners and experienced traders in the options market. The book covers essential topics such as option theory, managing risk, and understanding volatility. This revised edition also includes valuable insights on dynamic hedging and stock index futures and options, making it a great resource for learning about strategies and risk management. Sheldon Natenberg, the author, is an experienced trader and educator in options.

Related: "Top Picks for Learning About Commodity Trading

Best for Professionals: The Option Trader’s Hedge Fund

The 8 Best Options Trading Books of 2023

"The Option Trader’s Hedge Fund" teaches how to treat options trading as a business for consistent income. Authors Mark Sebastian and Dennis Chen share valuable insights on creating income streams, avoiding mistakes, and drawing from their own extensive experience. Sebastian works at Option Pit Mentoring and Consulting, and Chen is the founder of Smart Income Partners.

Best for Beginners: Trading Options for Dummies

The 8 Best Options Trading Books of 2023

"Trading Options for Dummies" is a great pick for beginners due to its focus on the fundamentals of options trading. Author Joe Duarte explains how to select suitable options, safeguard investments during market declines, boost returns, and profit from price changes without selling securities. Duarte, a former biotech and healthcare analyst, also wrote the "This Week in the Money" column.

Best Quick Read: The Short Book on Options

The 8 Best Options Trading Books of 2023


"If you're diving into one book on options trading, make it Mark Wolfinger's “The Short Book on Options.” This book not only explains the basics of options trading but also offers strategies to use this market sector with minimal risk. It's an easy and informative read, filled with valuable options-related insights.

Mark Wolfinger, previously a market maker, authored three books on options and manages Options for Rookies."

Related: The Best Investing Books for Beginners

Best for Retirees: Covered Calls for Beginners

The 8 Best Options Trading Books of 2023

"“Covered Calls for Beginners” by Freeman Publications explains options trading as earning 'rental income' from owned securities. This guide covers the entire options market and delves into covered calls, explaining the differences between covered and uncovered calls. It also advises avoiding an IRA when writing covered calls and offers straightforward strategies for selecting the appropriate strike price. Additionally, the book highlights why options trading can be an enjoyable retirement hobby."

Final Verdict

Frank Richmond’s “Options Trading Crash Course” stands out as the top choice on our list due to its easy-to-understand approach to options trading. It covers all the essential basics, including various trade types, strategies to enhance returns, and techniques for identifying market patterns and sound investment opportunities.

Meet the Expert

Rachel Morgan Cautero, with a master's degree in journalism from New York University, has over ten years of experience in journalism, primarily focusing on personal finance. Her notable roles include managing editor at DailyWorth, a finance-focused platform for women. She has contributed to publications such as SmartAsset, The Balance, The Atlantic, Life & Money, Parents, WealthRocket, and Yahoo Finance. These selections were made considering the author's qualifications, reader feedback, and any pertinent awards.

Written by Sauravsingh

Techpreneur and adept trader, Sauravsingh Tomar seamlessly blends the worlds of technology and finance. With rich experience in Forex and Stock markets, he's not only a trading maven but also a pioneer in innovative digital solutions. Beyond charts and code, Sauravsingh is a passionate mentor, guiding many towards financial and technological success. In his downtime, he's often found exploring new places or immersed in a compelling read.

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