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[SherriT]

Your math is off....let's say one put and one call cost $1000 as you said. This morning, you could have sold the put for $1400 alone...I was watching. I realize the % is the same no matter what...and $1400 is a 40% gain from $1000. Still isn't done either, because technically, you didn't have to sell the call for a nickel, you could hold for a better return later.