### Comment:
The argument is not that it's not possible or that it's never happened. Ofcourse you can find exceptions to everything. It's more along the lines of the returns won't be as juciy as you'd expect and the already expensive puts both, lower the probability of a 'win', and dampen the vehemence of a 'win' even if you have it.

### REPLY:
Correct. Like in Vegas, because you’d have to reach across the bid/ask spread, you’re giving up ‘edge’ - and that’s just to put the trade on. If it’s a winner and you sell the put, you’ll cross the bid/ask spread again. Of course you could exercise your ITM but that depends on your brokerage platforms fees for exercising.  It’s very similar to paying Vegas $.54 for an expected return of $.46.

### END.