So bad news -- I am already overbudget by $45 on eating out, and this is only January 15. I have to admit that $300 was not a realistic number for us. I will adjust it to $500 for this month.
We obviously needed to make more money for the monthly budget to balance. And we did!
We took a chance and bought a stock option 2 days ago -- 550 AAPL call. Paid $1,613 for it. Today APPL soared to $558. We sold the option for $2,463. After commissions, we made $834 in 2 days. We will owe taxes on it. Assuming we will pay 40% (besides federal there is state and city, which are very high for us), that leaves us with after-tax profit of $500. So that should fix our over budget problem for January.
This was a VERY RISKY thing to do, and this was a one time deal. I dared to do it because I believed that Apple will likely have a very strong quarter, and so there would be some volatility as we get closer to the earnings call. We are not doing this again for a long time.
It is a relief to be done with the risk and to be balanced again!
Overbudget, and then $500 snowlfake!
January 15th, 2014 at 04:53 pm
January 15th, 2014 at 05:59 pm 1389808793
January 16th, 2014 at 09:25 am 1389864306
January 17th, 2014 at 06:06 am 1389938796
Brooklyn Girl, your other blog is great. And wow, I'm glad the risk paid off with the stock.
January 17th, 2014 at 09:41 pm 1389994899
I did another crazy thing. I bought another option. This time 560 February call. I am now back on the risk roller-coaster.