Or you could have put on a butterfly spread by selling the Jan 5.00 call and put and buying the 4.90 put and 5.10 call. Your risk is limited to difference between the strikes less the net credit received from selling the 5.00 straddle and buying the wings.
This is the downside of being on a higher exchange: once options are available you get a lot of posters working the issues too hard (or just creating some)because of options threatening to expire worthless.
I've found it very important to keep aware of options expiration dates and take everything with far more skepticism as those dates approach.
(I don't know but judging from recent posting I suspect an expiration date is near.)
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