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Getting Started in Options

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In easy-to-follow terms, Getting Started in Options, Sixth Edition thoroughly demystifies the options markets, distinguishes the imagined risks from the real ones, and arms readers with the facts they need to make informed investment decisions. The accessible, step-by-step format of this guide includes the latest examples, charts, and additions to reflect the changing markets. It also includes new and updated discussions on other options issues, such as Long-Term Equity Anticipation Securities (LEAPS) and the intricacies of options taxation, as well as understandable instructions about how to master options terminology and concepts, read the market, utilize new online resources, and more. Filled with in-depth insights and practical advice, this straightforward resource shows readers how options work as well as where they can fit into anyone’s personal investment plan.

291 pages, Paperback

First published January 17, 1989

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About the author

Michael C. Thomsett

181 books13 followers
Michael C. Thomsett is an expert in technical analysis and stock markets. He has published dozens of books on the topic as well as peer-reviewed papers, magazine articles, and blog entries. He has been writing professionally since 1978 and his best-selling, Getting Started in Options (John Wiley & Sons) is currently in its 10th edition (published by DeGruyter with a new title, “Options”) and has sold over 350,000 copies. The author lives near Nashville, Tennessee and he writes full time.

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5 stars
42 (23%)
4 stars
59 (32%)
3 stars
63 (34%)
2 stars
17 (9%)
1 star
1 (<1%)
Displaying 1 - 19 of 19 reviews
Profile Image for Richard Schwindt.
Author 19 books44 followers
October 21, 2017
I have written elsewhere about the bitter despair I typically experience upon reading books about option trading. Between the arcane language and silly references to the proud Greek nation they can be exercises in frustration. Nonetheless sometimes someone - in this case Michael C. Thomsett - writes something that ascends from sub literate garble into understandable prose. His work is well organized and takes you in a linear fashion through the basics on call and puts, then long call and puts and then short calls and puts. Yes, he does go into the more complicated stuff for those so inclined but most of this book can be read by most of us.
430 reviews3 followers
April 12, 2021
I’ve been wanting to learn more about options since a dad in my son’s Boy Scout troop mentioned that investing there was where the money was. Not that I am a speculative person but I thought I should learn about it. I had been learning about this for a little while but this book reinforced a lot of what I learned online through didactic examples and repetition. I think this book is a great intro to the topic. I think I may try this but I really have to learn a stock well to do this in an educated way. For most people a long term buy and hold will make the most sense
64 reviews1 follower
May 9, 2020
Good book to read first if you are getting started in options trading. Easy to understand and follow. Great examples. Wording is excellent compared to other books I have read with regards to options as he makes it easy to understand the conceptes.
Profile Image for Matthew.
5 reviews
August 8, 2017
Covers the basics well, but the examples are so wordy that my eyes just glazed over. Seems like the material could have been explained in a simpler and faster way. Still a good book though.
61 reviews
March 16, 2025
Good book for beginners. An overview of options and how to set them up are provided along with some good strategies.
Profile Image for Dee Renee  Chesnut.
1,709 reviews40 followers
March 29, 2010
"options investing contains many traps, making it one of the more challenging specialties you can find. It has a complex and specialized language; it changes rapidly; and it requires a high degree of comfort with mathematics. Thus, it is easy for people to become lost in terminology, to fail to act quickly enough to take advantage of the momentary situation, or to become confused by the calculations required to assess risk and potential profit. It is also easy to become distracted by the theoretical profit of options, ignoring associated risks, the result being taking on risks that in fact are unacceptable. Novice options traders often fail to realize how important it is to monitor the market regularly and to look for action points in their open positions."
Profile Image for Chris Maguire.
147 reviews6 followers
July 29, 2011
This book gave me a very clear view of options, how they work and what they're for: buying & selling, calls and puts. There are plenty of clear examples that walk through the details of the many situations in which options are used.

I did skip a few (maybe 20?) pages at the very end that went into some complex multi-option strategies.

After reading this book I no longer have to decipher the terms "call" and "put" and I spend way less time doing mental gymnastics trying to remember how selling and buying work with the calls and puts.

The first few chapters stoked my interest in options but by the end the love was gone; I would probably only use options now to either short a company or selling covered calls.
Profile Image for Maria.
110 reviews19 followers
April 18, 2008
The downfall of audio books is the inability to see the visual aids or to reference past chapters. Such is the case with this book. Although I think I would have had a hard time getting through it if I was reading the hard copy, I found myself wishing I did have it so that I could revisit earlier chapters. That said, option trading is a concept that takes some time to understand (at least for me!). I thought the author did a good-albeit dry-job of deconstructing the market and defining the language that makes up this part of trading.
Profile Image for Andrew Mueller.
34 reviews1 follower
October 16, 2010
This was the very first book I read about trading options. I really like Michael style of covering the topic and found this to be a great resource as I got into options. I would definitely recommend this book to those who are interested in getting into options.

There are probably about 100 books that cover how to get into options - there is a good list on Amazon as well. They all are organized in a similar fashion. Thomsett's book has good clear current examples with charts and diagrams.

In my journey I followed this book up with another on price patterns and swing trading.
Profile Image for Kevin.
6 reviews
November 2, 2010
I good basic book on options trading. A very easy read for a beginner and a good refresher for those who got burned and want to learn from past mistakes... I'd get involved in learning about stock and their function and pricing or valuation before getting involved in this "sort of speculation". It is speculation and yes you can "hedge your bets" but learn first and paper trade before EVER putting money in the market you'll thank yourself later. Good Reads to follow on with: Mcmillan on Options, Options Volatility & pricing and maybe Options made easy.
10 reviews
January 11, 2014
Good introduction to options for noobs like me who have only done regular stocks. It contains many examples to illustrate the cases and strategies. However, minus one star for too many numerical mistakes/typos in the examples. Good way to check if you actually understand the material, though.
Profile Image for Kim.
181 reviews
Read
December 10, 2023
Pretty basic options overview. The audio might put you to sleep so if you really need the info the book might be the way to go. I liked his concise way of explaining your risks and rewards with each type of trade.
Profile Image for Joe Fiala.
19 reviews2 followers
July 27, 2007
This is the book for people getting started. Clear and concise yet thorough. Wonderful starter book.
Profile Image for James.
301 reviews70 followers
October 11, 2010
If you know NOTHING about options, this book may help you, a little.
Otherwise, there are better books on the subject.
15 reviews1 follower
July 2, 2013
Great book for beginners - as the title states its will "get you started". The tips, examples and glossary are very easy to follow.
Displaying 1 - 19 of 19 reviews

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