A Houston furniture store is running a promotion. Buy $7000 or more in furniture and get a check refunding the purchase price if the price of WTI oil is $85 or more on December 31.
How could I use an option to hedge the bet?
No doubt a continuous prosperity, though spendthrift, is preferable to an economy thriftily moral, though lean. Nevertheless, that prosperity would seem more soundly shored if, by a saving grace, more of us had the grace to save.
Life Magazine editorial, 1956