Today, I am going to suggest one more position. And it will be a short term hedge position with a bearish bias.
The stock is Qorvo, Inc. (QRVO).
QRVO is trading around $121 as I write this.
The idea will be similar to the recent CRUS alert we just closed out.
I am going to suggest a one half hedge position on the stock.
Here is the suggestion:
Buy to Open (1) October 16th - $125 Call @ $5.70
Buy to Open (2) October 16th - $120 Puts @ $6.50
Each position will cost $1,870.
Based on the nominal portfolio, I suggest you limit this trade to a 1 lot, which will cost $1,870 or 1.8% of the tracking portfolio.
This will result in you buying 2 of the $120 puts and 1 of the 125 calls.
