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Politics : Ask Michael Burke

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To: Skeeter Bug who wrote (41884)	1/2/1999 4:37:00 PM
From: yard_man	Read Replies (1) of 132070

I don't know skeeter. If I remember right they have a scetion devoted to straight put purchases and another section devoted to straight call purchases. Read one and you have the basics for both. The discussion on spreads goes on ad nauseum, too. Most of the chapters as I remember had "introductory material" up-front which I found sufficient. You aren't going to get much by studying all the permutations. Take covered call writing for instance -- McMillan is very long winded on that one --- I guess because there are so many folks who hold the stock long and trade the options he tries to drive home the idea of the total position, reducing volatility, protection. The idea of rolling up or rolling down is covered so many times What can I say -- I like concise mathematical descriptions -- book is way too wordy, very poorly written, IMO. Someone should write a short book, no more than 50 pages which gives the reader enough understanding to create his or her own kinds of positions. I bought the book because of you-know-who. The leaf said something about options Bible -- what a bunch of hooey ... Back to your original point -- I think as one starts reading it you can very quickly realize that very large parts of the material can be skipped without hurting your ability to apply the information ...

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