There is alot of advice in this book. The most absurd bit is that trading options is relatively risk free because "you can close your position out at any time".

The author includes mostly examples of trades that are held until the end of the day. However he also mentions that "profitable long trades should be closed early. In most cases, holding these trades beyond 14:00 (2PM) would reduce or completely eliminate all profit". (this from page 73) So what's it going to be? Shall we disregard all of your many examples of trades held until closing them out at just before 16:00?

This book raises more questions rather than supplying answers. I say skip it.

Before going into the details of my review I will quote some statements from the book:
"A relatively large amount of minute by minute stock and option data was used in preparation of this book....... First and foremost `in importance' was accuracy because slight discrepancies can cause significant errors in volatility calculations"

"It is certainly reasonable to study option expiration by studying the behavior of individual stocks that is one end of the spectrum . The other end involves development of custom data bases and software"
Before I buy any book, I usually look through the Table of Contents to get a glimpse of what the book covers. In this book the search inside feature was not available, so my decision to buy was based on the one review available at the time. Even though I am a successful options trader I could not resist the high potential profits in few hours mentioned in the review.
After reading the book, and based on the author's own assertions quoted above, an average option trader can use ideas qualitatively by studying the behavior of specific stocks and its effect on option premium at expiration. This may include volatility near expiration, open put call position lopsidedness, and distorted time value of the premium among others. While this information is available in other books , this book is useful in that it consolidates it in one small book together.
To quantitatively apply the concepts in this book you have to be able to: (1) obtain extensive and accurate stock and option data. (2) Be able to program and (3) be a full time dedicated option trader. Fortunately, I am a programmer and a full time option trader. I tried to get as accurate data as possible and generate option volatility decay charts for specific stocks I felt are good candidates. What I found is that there is a lot of noise in the volatility decay charts, as the author himself admits, that makes is difficult in practice to achieve such returns , even though it is possible in theory assuming ideal entry and exit.
I rate the book 5 stars for theory and research and 3 stars for practicality of application thus a total rating of 4 stars.

This is a great book for serious and experienced option traders. The author discusses the effects of price pinning, volatility crash and time decay the last two days before option expiration and strategies - ratio spreads, straddles, strangles, etc for benefiting from these effects. This book is a logical continuation from his previous work - The Volatility Edge, however one does not need the first book to trade the ideas discussed here

Warning - the approach involves day trading and one needs an account that is not subject to the day-trading regulations ( > $25K) to trade around option expiration. This is not a reflection of the book or fault of the author, this is just the way things are

Highly recommended!