The 94 year old options trader

Here’s a short weekend story that you might find interesting at least, inspirational at best. About a month ago I was walking the dog during the Wall St. lunch hour when a neighbor a few blocks away came blowing out of house running up to me. “Sue, Sue, you’re an options trader right?” I’m surprised she knew this, I keep a low profile in real life, and since no one even knows what an option is, no one usually has a clue what I do. “My 94 year old dad just died suddenly, he has accounts with options in them and none of us know what to do!” I assured her that that was no one better in the neighborhood to help her family sort through everything. But I told her we needed to do a risk assessment very quickly, knowing how options can go awry so fast.

The next day she came to my house with piles of account statements. Listen to this, this 94 year old man had $3 million in naked puts, diagonals, and covered calls. He was a player! At 94! He knew exactly how to make risk work in his favor. He died doing the thing he loved most…selling premium. Luckily he was a TDA trader, so it was very easy to log in with the family and unwind all the risk for them. I think about this man a lot. I think about how much I would have loved to have met him before he died. But most of all I’m encouraged that what I love doing so much I’ll still be able to do when I’m 94. I hope to die with a mouse in my hand clicking “confirm and send.”