Profit with Options: Essential Methods for Investing Success is a powerful new guide that allows every investor to learn about options by benefiting from the wealth of knowledge and years of experience of a true options expert. Renowned options authority and "Trader's Hall of Fame" award-winner Lawrence McMillan complements his prior books with this thorough guidebook. No matter what your background, regardless of your experience level, McMillan's new hands-on manual takes readers on a "course" through the complete options trading process and provides end-of-chapter questions that will help you reinforce tactics and refine options trading skills-preparing you to apply them with savvy and strength before you are out in the real trading arena.

Profit with Options takes you from a basic clarification of terminology to straightforward explanations of complete trading methodologies, for both the beginner and the veteran trader, with chapters on direct and contrary indicators, protecting a stock portfolio, and trading volatility. Through hard-won knowledge gleaned from years of options trading experience, McMillan provides you with in-depth coverage of trading systems, factors that affect markets and market behaviors, and general portfolio-protecting strategies, while uncovering the practices of successful options strategies. Focused on actual ways to generate profits from options trading, this accessible guide will show you how to:

* Use options as predictors of market behavior

* Determine when to engage in straddle buying

* Interpret OEEX and VIX

* Choose the trading system that's right for you

* Reduce the cost of portfolio protection

* Understand and use the measures of option price changes ("greeks")

* Analyze the reasons behind volatility changes

. . . and much more.

Profit with Options will challenge you every step of the way, and the valuable "Q&A" section at the end of each chapter offers you the rare chance to test your options knowledge before going into real-world trading situations-where time and money are something you cannot afford to lose.

In clear, easy-to-follow terms, Profit with Options arms you with the facts you need to understand options-stock, index, and futures options-as well as the tools you need to implement profitable options trading strategies. Whether you're looking for new investment sources in a bear market or seeking hedge protection in a bull, Profit with Options is a lively, one-stop reference and vital tool that can help you achieve your investment goals.

"McMillan is the top name in options education, bar none."

-Paul Stevens, President, Options Clearing Corp. and The Options Industry Council

"Larry wrote the book we built an industry on," notes Ned W. Bennett, CEO of OptionsXpress, referring to McMillan's thick volume, Options as a Strategic Investment. A decade later, McMillan on Options focused on McMillan's own personal strategies and favored techniques. Now comes Profit with Options, a treasure that complements his previous works and continues his legacy of educating investors on the benefits and strategies for incorporating options into a winning investment program.

Profit with Options is a unique course book that covers every phase of the options trading process step-by-step, and then reinforces individual concepts through end-of-chapter quizzes, thereby allowing readers to refine their skills. Each chapter covers a specific concept and closes with a set of review questions and answers that will assist the reader in implementing the material covered. Focused on practical ways to profit from stock, index, and futures options, this guide covers basic to advanced concepts and includes everything you need to consistently "profit with options." Learn how to determine whether to buy options or the underlying stock, use price and volume as technical indicators, apply index options as portfolio protection, and implement powerful volatility strategies.

When it comes to options trading education, no one is more respected than "Trader's Hall of Fame" award-winner Larry McMillan. Through his bestselling books, popular newsletters, and packed trading workshops, he has become a true industry icon. In Profit with Options, McMillan's newest offering, you'll learn powerful, proven, and profitable options trading techniques with the expert guidance of one of the world's foremost authorities.

Introduction.

Options as Direct Indicators.

Options as Contrary Indicators.

System Trading.

Protecting a Stock Portfolio.

Trading Volatility.

Buy Low and Sell High--Volatility, That Is.

Answers to Review Questions.

Glossary.

Index.