Opening performance with smelly trick (5)

I believe the answer is:

prank

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'trick' is the definition.
(synonyms)

'opening performance with smelly' is the wordplay.
'opening' says to take the initial letters.
'with smelly' becomes 'rank' (I am not sure about this - if you are sure you should believe this answer much more).
The first letter of 'performance' is 'p'.
'p'+'rank'='PRANK'

Can you help me to learn more?

(Other definitions for prank that I've seen before include "Practical joke or trick" , "Lark" , "Escapade" , "(Amusing) trick" , "Jape" .)

I've seen this clue in the Sydney Morning Herald.

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