Who’s buying and selling, page-414

P.S. A lens that I hadn't considered before your post was the value in tying up less capital in the investment for a time, e.g. if I have $20k but only allocate $10k to options perhaps there's another useful place to park my other $10k while waiting for SP growth, and perhaps that other place can provide sufficient return to offset the profit differences (noting on the flipside that tax implications may offset this if I subsequently need to leave capital invested for an additional year post-exercise).