ETF combo - long IYM short XME

IYM-3*XMEArca

Description

⋅ Nov 20, 2015 4:38 PM

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