A retracement to 2110-20 can quickly happen any time.
Stay cautious, as will stay high!
So when there is heavy sector rotation, SP500 and Nas100 can diverge.
Long Put 2120
Short Put 2045
Short Call 2195
Long Call 2210 (protection)
Maturity: 16/Dec/2016 (35 days)
Ratio 1:1 all.
I traded this combo paying net 8 points. Max loss is 15+8 = 23 points if at maturity market is above 2210. Max possible gain is 75 - 8 = 67 points. Max Risk/Reward: 2,91