Welcome to Larry McMillan's Free Learning and Analysis Tools section, your destination for option education and trading resources including free option data and software to aide you in your option trading.

**Free Option Glossary**- A comprehensive list of option-oriented terms and their definitions.

**The Various Volatilities**- A one hour plus discussion on the similarities and differences between Historical Volatility, Future Predicted Volatility and the all important Implied Volatility.**An Introduction to The Greeks**- A one hour plus seminar explaining how your option positions will react to changes in price, time, volatility, etc.**Profit with Delta Neutral Positions**- Learn how to increase profits and reduce risk with this simple yet effective strategy.**A Beautiful Equation**- A video detailing the formula for put/call parity that keeps the pricing of options in line.**Probability and Expected Value**- Learn to determine the optimal way to allocate your investment capital.**Neutralizing Greeks**- Learn to put on the option position you really want with this one hour seminar by head McMillan Mentoring director Stan Freifeld.**Binary Options: The ByRDs Are Coming**- an hour presentation by Stan Freifeld on the soon-to-be-listed Binary Return Derivatives.**Binary Options: The ByRDs Are Coming Part 2**- The second part to the Binary Return Derivitaves webinar.**Early Exercise: Strengthen Your Position**- Stan Freifeld discusses the different classes of exchange traded options and answers questions reagarding early exercise.**Exploring Calendar Spreads - It s About Time!**- Stan Freifeld illustrates several of the nuances of the essential option strategy.

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**Option Trading Guidelines**- An insightful article containing various guidelines that will generally keep you out of trouble, increase your efficiency of capital, and hopefully improve your chances of making money with options.**Which Option To Buy**- An article explaining what contract is best in various option-buying situations.**About Put-Call Ratios**- A helpful article detailing this powerful sentiment based contrarian indicator.**Covered Call Writing: Why Cash-Based Put Selling is Superior**- An article explaining why we prefer put-selling over the traditional covered writing.**About Our Volatility Data**- An instructional guide to our historical volatility, implied volatility, and composite implied volatility percentile data.**Volatility Skew Information**- An article explaining the different types of volatility skews and how you should trade them.**Using The Probability Calculator to Analyze Naked Put-Sales**- Lean how our Monte Carlo Simulation software can aid in choosing what puts to sell.**Why Trade “The Market”? Just Trade “Volatility” Instead!**- An article explaining why predicting volatility is more feasible than prediciting prices.**Neutrality: It works for the Swiss**- An article taken from the very first*Option Strategist Newsletter*covering the benefits of delta neutral option trading.**Futures Options Take The Sting Out of Limit Moves**- Learn how to hedge limit futures contract moves by hedging with equivalent futures options positions.**Exiting a Put For Parity Near Expiration**- A helpful article detailing what to do with your in-the-money puts at expiration and what to watch out for.**Four Eye-Opening Facts About Naked Put Selling**- an article detailing the benefits of this simple-yet-effective strategy.

**Covered Call Writing Calculator**- Calculate the rate of return in your cash or margin covered write positions.**Free Probability Calculator**- Calculate stock market probabilities with this easy to use Monte Carlo simulation program.

**Free Volatility Data**- Historical Volatility data, Implied Volatility data, and the Current Implied Volatility Percentile for all stock, index and futures options updated weekly

**Weekly Charts**- S&P 500 (SPX), CBOE Market Volatility Index (VIX), 21-Day Equity Only Put Call Ratio (PC21), and Weighted 21-Day Equity Only Put Call Ratio (PC21 w) charts updated each Friday

**Option Workbench Tutorials**- These recordings of the "Intro to Option WorkBench" and "Advanced Risk Analysis Using Option Workbench" webinars will help users understand and use the powerful Option Wokbench software.