The controversy surrounding Duan Yongping's reduction of Pop Mart holdings over the past two days has been addressed by Duan himself, who patiently explained the basics to beginners. However, many people unfamiliar with options still assume he is reducing his stake just because he sold Calls. Today, I will break down Duan's specific operations to help you understand why holding the underlying stock + selling Calls equals holding cash + selling Puts. Before addressing this final point, let's answer a few preliminary questions. First, why did Duan choose to trade options? Many people take it for granted that since he is bullish on Pop Mart...