There is no free lunch in the market. When we leverage or indirectly “leverage” we have to pay premiums or interests.

Premiums or interests have been paid and every year these options have expired worthless for more than a decade and still counting.

When we are wrong; we lost the cost of premiums; but when we are right when time comes. Hmm … next batch of Golden geese that lay eggs for next decade or more!

How much do these premiums add up?