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Mambo Combo
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Mambo Combo A combination of an in-the-money call and an in-the-money put, both long or both short. For example, a short 80 strike call plus a short 90 strike put is a short mambo combo with the underlying between 80 and 90. This dance can facilitate a floor trader's cash management, but it holds few attractions for most investors. Also called Guts.
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