Using strategies from Street smarts - two opposite set ups to hedge out market risk on June Options
Call on NCM - this is a modified ' momentum pinball ' set up anticipating a correction back up to middle of range only after ABC correction ; at money June calls 400 shares worth
Put on ASX - this is a new high then correction > 20 days High failure; called' Turtle Soup plus one ;
looking for typical correction based on previous negative drives and take profit above previous support ( old Highs);
at money Puts 100 shares worth only ( as hedged leg of trade 1 above - not a perfect hedge as missing 30 shares so skewed delta Positive market slightly ).
Trade closed: target reached:
both target reached on both stocks