Phrase of the Day: "The Brazilian Straddle"

It is not as sexual as you may suspect:

for a more technical but very entertaining read: "Trading and Exhanges" by Larry Harris. eg in this book I learnt about "the Brazilian straddle" options position: a naked short option position hedged with a one way ticket to Brazil. (in case the bet goes against you)

The natural followup question: how does a person already living in Brazil make a Brazilian straddle?

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