We also BUY a CALL one strike price further out than CALL we sold. We also BUY a PUT one strike price further out than one we sold. The cost of these calls should be less than amount you made from selling options in first place as they are perceived by market to be more 'unlikely' than ones you sold (obviously, if it isn't case, you don't bother). The cost of buying cover will usually be about 2/3 price you made from selling, so you just made a cool 1/3 cash for taking a strictly controlled position!

As research at www.traders101.com leads us to believe that we can expect this trade to win at least 80% of time, and our losses are limited to difference between out 2 PUTS or our 2 CALLS, you have to ask, 'is this free money?'. The answer is no. The downside is cost of options. Even at a deep deep DEEP discount broker fee of $10 a round trip, that's 4 of them - i.e. $40. If you don't choose right strikes, you could still end up losing money (basically, profit less commissions needs to be at least a quarter size of potential losses to break even on an 80-20 rule).

Does it scale? Yes. Do I use it? No. There are actually easier ways to make money day trading! Whatever you do, CONTROL THE RISK FIRST, SECOND, AND THIRD.

Once you get into habit of turning hose you'll find yourself doing it without thinking. That extra half cup that you get each time that you fill your gas tank can add up to a lot of extra gas at end of year that you never have known about.

4. High octane gas

For most cars these days, buying higher octane gas is a waste of your money. Regular unleaded has approximately 87 octane already and is fine for your vehicle.

By avoiding buying high octane gas you'll be saving a large amount of money over a period of time.

High octane gas is always more expensive at gas pumps so next time that you feel guilty for filling up your SUV with regular gas you can be assured that no harm will come to your vehicle.

Octane is simply a measurement of how difficult it is to ignite gas in your car and has nothing to do with quality of gas. If you are experiencing engine pings, rattles, or knocks you can switch to high octane gas.

However, you shouldn't be experiencing any of those knocks and rattles if you are keeping your vehicle maintained and making sure that you don't miss those scheduled maintenance checkups.

If you are driving a new model car you definitely shouldn't be hearing any pings or rattles and if you are you should take your vehicle to a mechanic.

5. Avoid topping off

Try to avoid topping off at gas pumps. When you purchase just a bit of gas at gas station pump doesn't have enough time to really activate, resulting in short bursts of fuel that may short change you from amount of gas that you are purchasing.

The best time to replenish your gas tank is when you have half a tank or less left in your vehicle, or when you find a gas price that you just can't afford to miss.