Tuesday, October 24, 2006

The Price of Procrastination

Just got back from working out. Feels good to get back into my routine.

Anyway, this post is about procrastination, or rather, the effects of procrastination.

How it starts is that yesterday I called my brokerage in order to get my account setup to trade equity options. This is required for the covered call play I have been salivating about for the last few weeks. Well, of course, the brokerage has to send me documents which I must read and return. These documents will be sent by postal mail. Even after I complete and return them, they have to be evaluated by the risk department to see how much margin they will extend to me. Needless to say, since I wanted to trade the options by Wed, 25 October, none of this will be in place in time. Now, I should have known better and I should have prepared in advance of this week. I can recall the machinations required to open my commodities account, where I trade options and futures. Instead, I procrastinated. And here I am, unable to write calls against Sun Microsystems as I had hoped. All because I was too lazy and not thinking ahead.

So there you go. That's the name I've been talking about for the last few weeks. SUNW. The dot in dot com. I've been following them for a while, and based on all the things I've observed, and some things (non-specific things, mind you) I've heard about how busy my best friend has been, I think Sun is going to present some good news when they report on Thursday. Now, I could be entirely mistaken. I could be hallucinating. (Could it be the demerol?) It doesn't matter as much now. I still own the shares, and we'll see what happens. I'm looking forward to it, but if it does pan out, then I'll be kicking myself for my procrastination that will have cost me real money.


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