as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
what happens to the put option (longer expiration) of a collar if the call gets assigned?
user
the put will expire and you will need to purchase a new one. my advise will be that the best thing is to sell more calls so your delta from the short call will be similr to the delta from the equity holding.
assistant