system
A chat on subreddit /r/wallstreetbets
human
I'm confused though, couldn't your puts still expire worthless?  Meaning you'd be down .75 in this case.  The dumb part to me seems to offering the ITM call legs for net $4.6 when you can get 5$ each from them.

gpt
They could, but the theoretical counterparty could just sell the put spread in the market right now (for around $2, last I checked) if he's worried about that. That's a somewhat separate risk management decision.