The "daily Call" From Option Alpha: Options Trading | Stock Options | Stock Trading | Trading Online

Hey everyone. This is Kirk here again from Option Alpha and welcome back to the daily call. Today, we’re going to be talking about people who are penny wise and pound foolish. This is probably one of my, again, more favorite phrases or quotes. You’ve probably heard it a zillion times, but I think it’s so powerful because not only does it apply to a lot of things that we can do on a personal level, potentially personal finance, relationship based, but also, it applies a lot to how people think about trading options and the actual actions that they do versus what potentially the actions they should be doing are in exchange. Quick analogy or a quick example of being penny wise or pound foolish on the personal level might be something like saving $.10 and clipping a coupon for a two liter bottle of soda and then going right next-door to the furniture store and buying a whole new living room set of furniture and putting it on credit. That would be a classic example of being penny wise and pound foolish. You are cl