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gb50k

ETF combo - long IYM short XME

IYM-3*XME  
gb50k  
IYM-3*XME  
IYM XME basic materials
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iym xme basic materials
IYM has been perking up but metals drags it down. This suggests:
Long IYM shares
Short XME using options - a synthetic short (buy the puts and sell the calls - same strike)

Ratio of deltas should be around 3 short XME deltas to each long IYM delta
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