Interesting events and episodes in Derivatives

Here is a description of an 'ingenious' ploy, described in a letter to Eurex, note the para just below the signature on the last page of the letter: http://institutions.interactivebrokers.com/download/Eurex_letter_070627.pdf

The episode appears to be simple enough for inexperienced options players like me to understand, so have a look.

Please feel free to share any other derivatives related oddities or yarns that might be entertaining, I stumbled on this by accident.