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My First Christmas

I'm often asked why I don't celebrate Christmas. I shrug off the question with a simple, "I just don't." It's really only the half-truth... My family has never really celebrated Christmas in the traditional sense. My mom did put up a tree for me for a few years when I was really young, but that was basically it. Maybe we're lethargic or apathetic - or a combination of both, but we never got into the holiday.

However, as I got older, I started to learn more about my history and realized how I should celebrate the holidays. The story of my first Christmas is very unique and tells a tale about struggles, oppression, and finally, freedom. The events that occurred on that day has allowed me to appreciate everything in life, from the mundane to the those that really matter. This is the story of my first Christmas.

My parents were caught up in a conflict known as the Vietnamese border raids in Thailand. It was a conflict that occurred from 1979 to 1988, which dispersed millions of Vietnamese and Cambodian citizens across three nations, many of which ended up in the refugee camps on the Cambodia-Thai border. This infamous region is known as the Dangrek Mountains; a site that is associated with inhumanity.

They made the decision to escape Vietnam shortly after they got married and had to reach Thailand where the conflicts were much more subsided and refugees were being relocated all across the world. With literally nothing, they trekked hundreds of miles from Soc Trang, Vietnam to Phnom Penh, Cambodia. To say the trek was long and arduous would be an understatement considering the war-like conditions of Asia. Years of conflict through multiple wars really did make the regions unsafe as minefields littered the country. After arriving in Phnom Penh, they had to take a train to Battambang, but were too poor to pay for a train ticket. My parents, along with dozens of others, sneaked onto the train which led to the first obstacle.

Mom and dad were quietly looking out the window as the train voyaged on. A train inspector entered the car and looked towards my parents immediately. He saw the lighter skin tone and lack of characteristics commonly found in Cambodians. If he could find out they were not Cambodian, my parents would be forced off the train as trespassers. The inspector asked a question in his native tongue. My dad replied back in Cambodian to the shock of the inspector. The inspector looked at my mom, who did not speak Cambodian and did not understand what he was saying. Quickly, my dad interrupted and said "My wife, she is both mute and deaf." The employee stared at my parents and dismissed them as lighter-skinned Cambodians, and gave them a pass even though they lacked ID and a ticket. A sigh of relief. My dad, a life-saving skill perhaps, was able to pick up the Cambodian language, very fluently in fact, during a short period of time. This allowed them to continue their way north under this ruse.

This train ride was frequently interrupted with stops as the train tracks had been destroyed from the war. Passengers would have to exit one train and board a new train, sometimes miles away. At times, transported by bus, motorcycle, or by horse to the next train stop.

Finally arriving in Battambang, they were not greeted with cheers. Instead, my parents were sent to an outskirt town and put in a prison. The prison loved taking people in because humanitarian organizations like the Red Cross and the UN would pay rice in exchange for the release of prisoners. My parents were fortunate enough to be selected as trade bait and were placed on the Red Cross's list to leave to Canada, but the ordeal was not over as they still had to go to another camp, known as Nong Samet, for placement.

The camp was situated in the jungle and the trail into it was a sliver wide, where a small error in judgement would result in catastrophe. It was covered with mines and where there were no mines were dead bodies. My parents described the refugee camps as filthy and full of disease. While residing in the refugee camp, I was conceived. I was born so thin that my body looked undeveloped, as the silhouette of my organs could be seen. Not given much chance to live, but my parents did what they could.

But my mom was malnourished. We had no food, and my mom weighed just 65 pounds that day. She was unable to breast feed her own son. Luckily, other mothers were very giving and fed me their excess breast milk, and other families fed my parents congee and water. It was months of pure starvation for my parents but they survived, barely.

My dad recalled it may have been Christmas Day, and we were told that we were being taken away to freedom, but suddenly, tanks started rolling in and my family was right in the middle of a war zone. Bombs, gunfire, and tank shells blasted the camps. 60,000 refugees took cover and tried to escape the mayhem, not wanting to be a casualty of war. Hundreds, including my own family, hid underneath a cliff that was a waterfall in the summer, but a dry well in the winter. The Thai soldiers that accompanied us were also hiding there. They were forced to shoot or beat babies that cried, often to death, for fear that their cries would alarm their enemies towards us, yet by some miracle, I did not cry. This allowed us to remain alive among the dead.

When the sun rose, the battle had ended. The dead and alive were covered in ashes from fire that destroyed parts of the camps and jungle. The chaperones started calling the names of those who were listed on the Red Cross's list to stand on one side and the rest on another side. One man that had not been selected ran to the selected group and tried to give us a letter to give to his loved ones, but the Thai soldier shot and killed him for disobeying them. It was unruly and vicious, but it was the law and order of the times.

The bus awaiting for the lucky folks was seven miles away, understandably being cautious as to not enter the camps just hours after a battle. My dad, holding me and an empty bag for food, and my mother, too weak from giving birth still, would become abandoned by the rest of the group because we were too slow.

The remainder of the group had been at the bus waiting for us, but many were getting impatient and restless. An argument ensued between refugees and staff. "The Luu family is dead! Get us out of here," someone yelled.
"My job is to make sure we count everyone on the list. We cannot leave until we find them, dead or alive," replied the driver. Staff and refugees continued to fight over the process when suddenly a man yells. "There they are!"

My parents emerged from the jungle with cuts all over their body. Their clothing torn to bits from the thorns and bushes. Blood soaked my dad's body and clothing. The Red Cross associates ran towards us and helped us get onto the bus. They gave buns the size of a fist and one hard-boiled egg. It was not very much, but for my dad, after having not eaten in more than 24 hours, it felt like a buffet. My mother received a blanket and turned it into a Tarzan-like tunik for me. Up until that point, I had been naked since birth, but that blanket was my first Christmas gift ever courtesy of the Red Cross.

My family was relocated to Edmonton Canada in May 1985 - a place I now proudly call home. I couldn't be prouder to be Canadian and I have always been so thankful for those that accepted us into their country when a lack of trust existed towards Vietnamese and Asians at the time.

Remember how people often ask me why I don't celebrate Christmas. I shrug off the question with a simple, "I just don't." It's only the half-truth. I feel blessed everyday knowing that each moment is a gift. I am surrounded by people that matter more than any present. The whole truth is "I just don't need to."

Post-Script
After years of research, we recently found the historical event on a Wikipedia page "https://en.wikipedia.org/wiki/Vietnamese_border_raids_in_Thailand" and I contacted the Associated Press for more details in 2018 about this article, however they have not yet responded to date. Thank you for reading my family's story!

Market Falling on Options Expiration Week

Playing the Expiry: December 17, 2011

It is the final options expiration week for 2011 and the markets look spooked, still. A Christmas rally does not look like it is in the works, at least, not this week anyways. The US markets are showing some negative signals and it's best we take advantage of the higher prices before the selling continues.

The S&P 500 and Dow Jones broke below the 200-day moving average today. Both charts also show a negative DMI and MACD forming. These signals often predict a short-term market sell-off, or in the worst case (for traders), a lack of a rally.

Netflix [NFLX:NSD] has been a weekly candidate for options writing. A potentially volatile stock which lacks the massive volatility needed. The shares have been range-bound for quite some time, and with the market most likely getting ready to fall a little further, take advantage of the December 72.50 call. After a sudden spike in a few minutes on Wednesday, the call options have added extra premium for us writers to hope and pray. The shares are trading at $71.00 right now and the calls are $1.11. That is a return against market value of 1.56 per cent and upwards protection 3.68 per cent.

Las Vegas Sands [LVS:NYSE] has shown some weakness over the past week. The shares have not broken below its support in the $40 range, but I do not expect the shares to rally against the market's trend either. Consider writing some out of the money call options, with the December 42 calls appearing to be the most attractive. The shares are trading at $41.00 and the calls are bidding $0.26 per contract. That is a return against market value of 0.63 per cent and upside protection of 3.07 per cent. Another added bonus could be if the shares do rise tomorrow, consider writing a put as well for an extra return.

There weren't too many attractive trades this week to implement on Wednesday. It looks like many of the call options have lost a lot of value due to investor sentiment. The shares above are the usual ones I trade, so there's nothing special here.

If you want to take on less risk, considering writing the McDonald's [MCD:NYSE] 97.50 call and put for a short straddle trade. Premiums would net you about $1.08 on a low-volatile stock. The shares are at $97.43. Remember to close out the option on Friday by the way.

Other considerations would be an IBM strangle at 185 and 190. You'll earn about $1.20 here.

The table below breaks down the real-life returns and margin required. Remember that returns below assume full expiration on all options, including straddled trades. Consider your investment needs and objectives before implementing any uncovered option trades.

Company Name Premium
(per pair)
Approx. margin
(per pair)
Return Against
MV
Real Return
Netflix $111$2,175 1.56%5.10%
Las Vegas Sands $26$1,260 0.63%2.06%
McDonald's $108 $2,9251.10% 3.69%
IBM $120$5,700 0.64%2.10%


Sideways Plays

Playing the Expiry: December 9, 2011

Detecting the sideways action of the American markets has given option traders yet another upper hand in the battle for riches. Although I have not posted a PTE blog post in a while (I mean, maybe ten people read this anyways), you surely would have beaten the market by doing absolutely nothing! Let's take a look at some trades I implemented this week which could prove profitable.

The sideways market has kept many shares trading in a tight range with no sign that volume will re-enter to push it one way or another. Shares of Las Vegas Sands [LVS:NYSE] have been caught between $42 and $48 with most of the price-action in between $44 and $47. A short combination or strangle is an appealing trade here. The December 9 call and put options are bidding $0.31 and $0.32 respectively. That nets $0.63 a pair or 1.40 per cent return against market value. The shares, trading at about $45.10 currently, would have to fall 3.84 per cent to $43.37 or rise 3.39 per cent to $46.63 before a loss would occur. Considering we have two days and one hour left, those are pretty good odds.

International Business Machines [IBM:NYSE] also known as IBM, has broken above the $190 resistance level and has continued to slowly push higher. It is currently trading at roughly $193.50. Although some technical traders might see the shares moving higher, I don't believe it will make a massive move in the short-term. The shares should remain above $190 but will most likely stay below $195 by Friday. Consider writing the 195 call and 190 put options. The current bids are $0.83 and $0.48 respectively; that nets $1.31. The break-even range is $188.69 to $196.31 or a fall of 2.49 per cent to a rise of 1.45 per cent. The return would be just 0.68 per cent because IBM is a very low volatile, stable company.

Lastly, this sideways market has also affected commodities too. Silver has shown a lack of volatility over the past three months and especially over the last 30 days, where a trading has constricted to $30 to $32. The iShares Silver Trust [SLV:NYSE] is currently at $31.54; consider writing a strangle with a 31 and 32 strike price. The 31 puts are only $0.20 and the 32 calls now only $0.24. But at $0.44 against the market price, that represents 1.40 per cent return for the next few days. This trade also gives you a break-even range of $30.44 to $32.44, which provides downside protection of 3.49 per cent and upside protection of 2.85 per cent.

I thought it would be more effective to also include the real-life returns to show that returns against market value (as posted above) are well below the real returns. The average options writer should be able to earn 3 per cent a week. This table will now be included in the final section of each PTE post. All trades assume normal margin requirements and options expire worthless by Friday.

Company Name Premium
per pair
Approx. margin
per pair
Return Against
MV
Real Return
Las Vegas Sands $63$1,380 1.40%4.56%
IBM $131$5,850 0.68%2.24%
iShares Silver $48 $9601.40% 5.00%


Disclaimer: Writing uncovered (or naked) options requires substantial margin and is only available to sophisticated traders. Uncovered calls have unlimited risk and can have infinite losses. Before making any trade, always discuss this with your advisor or professional broker. Reminder that all Playing the Expiry posts are considered and executed transactions for my account and should not be taken as professional advice.

 
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