Wednesday 3 February 2021

Option Trading by Foxymoron

Trading options is a dangerous pursuit, with substantial sums won and lost. I was facing a poor board today against a good player, and decided to gamble that he would get greedy. I had the option to settle for -430, but I was the greedy one and got egg on my face. Not for the first time.


I decided to open a weak 2H here. I wanted a heart lead, and wanted to make it awkward for the opponents, But I ended up setting out a road-map for declarer. Chantal, West, overcalled 2S, and East had an easy 3NT with a double heart stop. I led a top heart and East knew to win the first round as he still had a second stop if I did have a minor-suit ace. He now led the king of clubs. North won this (ducking was probably better) and now North returned a club. Now East played a diamond to the queen and North won (again ducking made declarer work harder). Now North played another club, whereas a diamond would have held declarer to 9 tricks as it would break up the impending endplay.

On the run of the spades I was a bit stuck on the South hand. If I kept Jx in diamonds, I would be thrown in to lead into the KT of diamonds. I smoothly (at least I thought I did) bared the jack of diamonds, but there were no flies on Ken and he dropped the jack for a national top of +460. That'll learn me to open 2H on a five-card suit. Mind you, holding it to -430 would have only been a 10% board.
 


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