(See here for an explanation of this series and here for an index to it.)
Conchita smiled, because her master had spanked her.
She smiled, because after he had spanked her over the spanking stool, he had lowered her to her knees before him.
She smiled, because she could, leashed and collared and cuffed though she was, still put her arm around his leg, and feel his right hand upon the back of her neck.
She smiled because under her right hand she could feel his arousal, and because she knew that his arousal came from spanking her, and from knowing that she wanted nothing more than to submit to him.
Conchita smiled because she knew the next thing her master would say was "Mouth, Conchita. Open my fly, and let me take my pleasure."