Options Trading Books on Reddit: Essential Reads for Every Trader

When it comes to mastering options trading, there's no shortage of resources, but finding the right ones can be overwhelming. Reddit, with its myriad of forums and discussions, is a treasure trove of recommendations and insights. Here's a deep dive into some of the best options trading books frequently highlighted by Reddit users, offering you a curated list of must-reads to elevate your trading game.

1. "Options as a Strategic Investment" by Lawrence G. McMillan
This book is often hailed as a bible for options traders. McMillan, a seasoned trader and educator, dives deep into the strategic aspects of options trading. The book covers a range of strategies and offers a comprehensive look at how to use options to hedge and speculate. Reddit users often point to McMillan’s detailed explanations and real-world examples as key strengths.

2. "The Options Playbook" by Brian Overby
For those who prefer a more visual and straightforward approach, Overby’s "The Options Playbook" is a favorite. This book is designed to be a practical guide for both beginners and experienced traders. It includes clear illustrations and step-by-step instructions for various strategies, making it a go-to reference for quick problem-solving and strategy planning.

3. "Options Trading: The Hidden Reality" by Charles Cottle
Cottle’s book stands out on Reddit for its in-depth analysis and advanced trading techniques. It is recommended for traders who have a good grasp of the basics and are looking to delve into more sophisticated strategies. Cottle’s approach combines theoretical insights with practical applications, making it a valuable resource for serious traders.

4. "Trading Options Greeks" by Dan Passarelli
Understanding the Greeks is crucial for successful options trading, and Dan Passarelli’s book is often recommended for this purpose. Reddit traders appreciate Passarelli’s clear explanations of how the Greeks—Delta, Gamma, Theta, and Vega—affect options pricing and trading strategies. This book helps traders develop a nuanced understanding of these critical components.

5. "The Bible of Options Strategies" by Guy Cohen
Guy Cohen’s comprehensive guide to options strategies is frequently mentioned in Reddit discussions. This book provides an extensive overview of various strategies, from basic to advanced. Traders value Cohen’s detailed breakdowns and practical insights, which help in creating and executing effective trading plans.

6. "Option Volatility and Pricing" by Sheldon Natenberg
Natenberg’s book is a staple for traders looking to understand the complexities of volatility and its impact on options pricing. Reddit users often highlight this book for its thorough examination of volatility concepts and pricing models. It’s a must-read for those who want to grasp the intricacies of market behavior and risk management.

7. "Options Made Easy" by Guy Cohen
Another gem from Guy Cohen, "Options Made Easy" is a favorite among Reddit users for its accessible approach to options trading. The book is geared towards beginners and provides a clear, step-by-step guide to understanding and implementing options strategies. Cohen’s straightforward writing style makes complex concepts easier to grasp.

8. "The New Trading for a Living" by Dr. Alexander Elder
While not solely focused on options, Dr. Elder’s book is frequently recommended on Reddit for its comprehensive approach to trading psychology and risk management. Elder’s insights into trading discipline and strategies are invaluable for options traders looking to improve their overall trading mindset and approach.

9. "The Art of Trading Options" by Kevin J. Davey
Kevin J. Davey’s book offers a practical perspective on options trading, blending real-life experiences with theoretical knowledge. Reddit users appreciate Davey’s focus on developing a trading plan and system, which is essential for long-term success. The book provides actionable strategies and insights based on Davey’s own trading experiences.

10. "Options Trading for Dummies" by Joe Duarte
For those new to options trading, Joe Duarte’s book is a popular choice on Reddit. As part of the "For Dummies" series, it provides a user-friendly introduction to the basics of options trading. The book covers fundamental concepts and strategies in a way that’s easy to understand, making it an excellent starting point for beginners.

11. "Advanced Options Trading: Approaches, Tools, and Techniques" by William J. F. Heuson
Heuson’s book is well-regarded among advanced traders for its in-depth exploration of complex trading techniques and tools. Reddit users recommend this book for those who want to expand their knowledge beyond basic strategies and delve into more sophisticated options trading methods.

In summary, Reddit is an excellent resource for discovering top-notch books on options trading. Whether you’re a novice or a seasoned trader, the recommendations from the Reddit community can guide you to valuable resources that enhance your trading skills and strategies. Explore these books to gain a deeper understanding of options trading and elevate your trading game.