ðə jˈuːzɚ, hˌuː ɪnˈɪʃəli ɐsˈɜːɾᵻd ðˈæt "ðə spɹˈɛd lˈɪɾɚɹəli kænˈɑːt ɡˌoʊ tˈɪts ˈʌp," dɪdnˌɑːt ɹˈiːəlaɪz ðætðɪ ɐmˈɛɹɪkən ˈɑːpʃənz hiː wʌz jˈuːzɪŋ kˈæɹid ðə ɹˈɪsk ʌv bˌiːɪŋ ˈɛksɚsˌaɪzd, ænd hæd hɪz spɹˈɛd lˈɪkwᵻdˌeɪɾᵻd ɛntˈaɪɚli wɛn ðɪs hˈæpənd tə wˈʌn ʌv ɪts lˈɛɡz.
The user, who initially asserted that "[the spread] literally cannot go tits up," did not realize that the American options he was using carried the risk of being exercised, and had his spread liquidated entirely when this happened to one of its legs.