Synthetic Short Straddle with Calls

Holds 100 shares long and sells two calls against them, which reproduces a short straddle. The first short call turns the long stock into a synthetic short put and the second supplies the short call side, so premium comes in from both contracts, quoted from bid and ask with the shares marked at last price and previous close.

Be clear about the exposure: only one of the two calls is covered by the shares, so a rally leaves the position short an uncovered call, with losses that grow without limit as the stock rises.