I want to Apologize for my total loss of investment, I lost everything I put going long options hoping to collect some fat premiums. Damn GE held like a Gibraltar rock during this crash. I lost 100% of the position (25 contracts for 135 dollars) Now worthless unless I get lucky Friday. Could I get lucky and GE crashes under 6.5? How do I explain to my 12 year old that his lawn work money disappeared?
Easy. Just explain that you "screwed up". He'll not understand right now, but will later... and do plenty of the same himself when he gets older.
His funds are yours to play? Is this a joke? You have to replace the money dude. He is way too young to understand the risks involved, as a parent you have to protect them from others and yourself.
Well if you went long, you wouldn't have collected any premiums. So not only you didn't collect any premiums, you lost all of his money!! Now at least take off your watch!!!
Just tell him not to worry and that you will be using his Christmas gift money to make back the loss at the Casino craps table.
Tongue in check - if he's 12 it was probably an UGMA - you should pay him back. What firm allows options in an UGMA. I smell a very fake story.
You lost 135$!!!!!!! And you are complaining!!! I much is 135$ represent to you (not to your son)? Your sons (more than 1!!) have nothing to do with your error. Just admit that you screwed up and refund your sons and move on...
I could use some yard cleanup and mowing, if you need to earn money to pay him back, and yourself learn how to value hard-earned money.