lol so you’re attempting to model the put post-event. What happens when the event causes spot to plummet? Explain it to the OCC and have them advance you the money. Today. youse make a compelling argument! why bother buying the put at all? Post event vols-collapse so just cover your primary short gamm and buy some flooring! Dude, what you propose in your modeling is r*tarded. You suck. Especially at this.
The event is good for us, just watch the PnL chart. It is even much better if we were able to apply Step 2 of The Plan (but this is even just optional! Not even mandatory to do! ) Step 2 allows us to improve on the construct whenever it makes sense, and it does make sense when the OTM options become cheaper due to time-decay. One just tests it in the simulator to see whether the PnL chart would improve. By this method one also can increase the leverage x-fold... It's a powerful mechanism.
Please don't feed this off-topic troll. You should be interested in keeping your own thread clean from such off-topic spam postings.