Where are you bound? How should I interpret the word "bound" here? I did not find an apt meaning
in my dictionary.

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"where are you bound (to/for) means "heading/going toward" - as in "I'm homeward bound." (I'm going home").

(the fourth definition here: http://www.thefreedictionary.com/bound).

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For example: LA Bound
It means that someone is on his way to Los Angeles.

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I am bound to have a trip in the pole area someday . (must in the future)

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I am bound for Australia to explore exotic culture and bush area .
I am bound to blame her children as they made a mess in my living room .