So I brought this chick home from the bar and I think she was a married put but what the hell. Anyway her naked call was so in the money, she turned my short put into one hell of a long call. It started out pretty vanilla until she showed me the strap she brought. She wanted my long condor to be covered but I was like naw. So 5 seconds later were doing a reverse iron butterfly while I employ my bullish strangle strategy with the dog collar I had, and she straddled me with her bull put spread. She flips around and we do a synthetic straddle with a bullish strap strategy. The volatility becomes too great and my call expires all over her put. And thatâs how I learned to trade options successfully.
Did you strip before you put the strap on? I once got long during backwardation, hurt like a bitch the next day. She was happy though, because I had enough margin to keep it in. We settled it in cash afterward, because she was fed up with taking physical delivery.