This is a great book for starters in options. It challenges you and at the same time you want to continue to the next chapter.A must reading for entering the option field.

My introduction to Mark's book was by way of SFO Magazine (another good read). I'll keep this short; many have made good points before me. Two major items make me recommend this book: Sound and practical advice and Mark's encouragement for learning. If you ever go to some investment seminars (not sales pitches), you will often encounter some side note/comment the speaker will mention that gives shape to the person, the design and or message. It can make the information more real and less dry/impersonal and, frankly, sometimes more useful than the rest of the hour. The Rookie's Guide to Options has those side notes/tidbits. Remember that an experienced (and successful) professional has distilled those experiences and what better way to follow that success than to know the plan of attack by a pro? Mark gives his approach from beginning to end. That alone worth the book.
Second, I mentioned the author's willingness/encouragement for learning. If a teacher is unapproachable, or seems distant, aloof, he does not encourage learning, enthusiasm, life. I read the book as if I were in a classroom along with other, enthusiastic rookies. There was a sense of dialogue - a welcomed change from the dry option mechanics. Mark also responds to E-mails quickly and answered any questions I had before and after I purchased the book. I spent good money on a good book. I only wish I had purchased it before I lost other good money! Best wishes to all.

My only toe in the water experience with option trading was years ago when I foolishly purchased cheap OTM calls only to lose money. Now, along with my equity trading I am ready to re-enter the option market better educated this time around thanks to Mark's book. Like was said in a previous review a quick one time scan of the book is not recommended, but more time reading, understanding, re-reading, and highlighting is. The book was much more than I had hoped and for a beginning trader like myself Mark has made me feel comfortable with covered calls and cash secured naked puts, (the same trade btw), collars, and credit spreads This book will be one of several books I will read on the subject, but I am glad I found this one first. Thanks Mark for a well written book.

I imagine my quest to successfully trade the market was fairly typical. Eventually I arrived at a fork in the road, one direction lead to washout-- the other an epiphany that not losing money was infinitely more important than pushing for gains. When I picked up Wolfinger's book I was at such an inflection point, and regretfully I'll admit it wasn't my first visit.

Mark's writing style is sensible, easy to understand, obsessively objective and thought provoking. He has a unique way of presenting obvious but frightfully neglected facts such as an admission that, he personally; does not possess the "skills" required to determine in advance where the market is going. Of course nobody does but he'll let you admit that to yourself... if you're so inclined...

It's a book for absolute neophytes up through experienced traders but the "rookie" title makes me chuckle as I find myself explaining things I've learned to peers (full-time professional traders).

Read this book (then read the chapter on equivalences- again). You may lose all desire to trade or own stock (as I have) or learn to effectively protect your investments, or you may decide that options aren't for you. Either way-- you'll gain an understanding sure to advance your probability of success in the market.

Well, I'd like to start with this. When learning investments I have found that it pays to get your advice from people who meet the following two conditions:
1. That they are experts in their field.
2. That they have YOUR interests at heart.

These two conditions are superbly met throughout this book. The author spent decades trading options as a market maker and for his own account. He has made and lost money and in reading this book you are educated to make trades that fit your style and comfort zone, all while Mark shares real-life experiences and examples as well as the why's of specific trading strategies.

At first, I felt a leaning towards labeling this a textbook, except that would not do the book justice. While its content, examples and insights are what you would expect from a textbook it is much more than that. It is well written and I found it extremely readable. As one of the other reviewers noted, I too have found the author extremely gracious about answering what in hindsight (after reading the book), were very basic questions that I had emailed.

After trading options for the last few years with losses (even after paying some of the advisers that we all see advertised)I feel positive that if I had read this book first (it wasn't available then) I would have prevented losses and increased profits 50K or more. That's not a bad ROI! Needless to say I recommend this book.

Mark participates in an online options forum. I praised his book there and he asked if I would be willing to review it here. I'm not sure I can add much to what has already been written here. Donald West's review is especially detailed.
This book actually holds your hand through profitable methods of trading. You still have to understand options to be successful, but this book is more practical than most. Most importantly, the emphasis is on decreasing risk. Options can be used like lottery tickets or can be used to make investing much safer than buying stocks, as the average investor does. Mr. Wolfinger is not a gambler, and he advises you not to gamble either.
Is this the only options book you need? Perhaps. I can't be sure, since I already understood options well before I read it. If you are serious about taking control of your investments, then options can give you real advantages. But don't think that you'll skim over any book and then sit on a tropical beach the rest of your life making a few trades. Options are complicated and will leave you baffled at first. If you make the effort then they can be very rewarding. The good news is that this book is clearly written and practical. It really is one of the 5 best books I've read about options.

Mark has written a terrific book that all options traders should read. He focuses on several popular strategies that you can find in many books, but the difference is that Mark gives you practical advice on how to trade, and even more importantly, how to stay out of trouble when you do trade. Mark's advice is consistently conservative. He is not so focused on milking every trade for every last dollar. It's more important to keep trades gone wrong from losing big. Over and over, you will find this important message coming through.

Mark writes in a style that is friendly, easy to read, but deceptively informative. You don't feel like you're being overwhelmed with theory, but when you look back, you find that you've actually picked up more than you thought. He demonstrates the surprising equivalence, for example, of covered call writing, which many people are comfortable doing, and selling a naked put, which sounds riskier but is in fact identical.

This book is full of really useful and practical information, and I believe anyone actively trading options would benefit from studying this book thoroughly. It's not just rookies who will gain from Mark's shared experiences. BTW, Mark maintains a web site and blog where he continues to share his knowledge. He is also most generous with his time, answering numerous questions from his readers.

Before reading Create Your Own Hedge Fund (one of Marks other titles)I considered options to be far too risky and exotic and solely for the professional trader. However after reading the book options were no-longer anything to fear and I was completely sold on the idea of using options to both reduce risk and increase profits.

The Rookies Guide to Options takes the ideas that were previously introduced and takes them to the next level. Concepts are introduced and explained in a way that makes them easy to understand and completely transparent. You're never left wondering - but what would happen if?

It's a master class in options from a truly brilliant teacher.

I can't recommend this book enough