Don’t know if all the kids do this… Every restaurant that we have ever been to, our kids –especially Adit– has gone to use the bathroom. It is almost as if he needs to go and check to make sure that the restaurant has a working bathroom. Along with him, I get to visit them too. Can’t wait for him to grow up a little so that he can do these visits on his own like his sister.
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We were at McDonalds drive-through picking up dinner for kids.
Adit: Did you get three bags?
Me: No. There are only two bags. Two Happy meals for you both.
Adit: Why didn’t you get three? One for each of us.
Me: I don’t like Happy meals. I’ll eat something at home.
Adit: What will you eat at home? Will it be mad or angry?
Took me a few seconds to figure out what he was saying. 
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It has been one year since I started dabbling in options as a strategy to boost investment income. I sold out-of-the-money covered calls for many stocks that I hold. There are three possible outcomes when these contracts reached expiration:
- Stock price stays below the strike price of the call option and the contract expires worthless. For most of my options, this was the case. I got to keep the premium I received with no change in stock positions.
- On two options, the stock price was above strike price. I didn’t want to sell the stock, hence I bought back the options. As the buying was done close to expiration, there was no time premium left and even on those trades ended up with small profits.
- On two options, the stock price was above strike price on expiration and they got assigned. I sold the stock and started buying them back in following weeks. After I had to sell those shares, the whole market had a correction and my buying back price was lower than my selling price. Profit was made in these trades, too.
Even if one plays options very conservatively (which I did), they don’t always yield profits. There is an improved chance of making profits versus a loss. In my case, I was just lucky that all trades turned out profitable. The biggest chunk of money was made from expiration of worthless options. One can look at this strategy as if getting an extra dividend payment for holding the stock. The only problem is that money made from option trading is taxed as regular income and not as dividends which are taxed at lower rate.
Anyway, I made more than enough money through these trades to support my yearly wine consumption. Hope to keep this streak going in 2010.
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