Getting assigned on a calendar spread sounds terrifying until you understand what actually happens. You end up with short stock, your buying power looks wrong, and it feels like something has gone catastrophically sideways. It has not. Because the position is defined risk, the short shares are covered by the remaining long option. Capital requirement stays the same. The whole thing closes in one transaction. This Life Cycle of a Trade episode walks through a real IBIT Bitcoin ETF calendar spread from entry to unexpected assignment to exit, netting an 83 cent profit on roughly $100 in risk. The lesson: forgetting about expiration is not the end of the world when the position is defined. Helpful links: tastylive: tastylive.com Get Tom's pre-market analysis every morning: tastylive.com/newsletters FREE Options Strategy Guide: tinyurl.com/bp9ms763 Follow tastylive on X: x.com/tastyliveshow CHAPTERS: 00:00 Bitcoin in a Lull: Why IBIT Is Interesting Right Now...