I saw this movie when I was a kid in the 80’s. I woke up at midnight and turned on the tv, probably Cinemax. There was this cult of some kind, all women, and they had this guy lying over some table his hands tied. They forced him to have sex with one of them which was covered with a cloak and hood (I think) and climbed on top of him. It was supposed to be his doom, but it turned out the girl was actually one of the good guys and most probably his love interest in the movie.
For some time I though the title of the film was the Golden Cobra, but I may be confusing these two films.