changegonnacome

Thanks timing & pricing sitting where I was thinking also Q2 has to be melt down for this group - mid-August earnings release/call with corresponding Sept 2020 120 puts could be good bet

Neat idea and hardly(to my knowledge) a crowded institutional idea either. How do look at structuring this in a cost effective manner? I gave it a quick glance and put it on the "take a look at" reminder list for later. But briefly, couldn't you construct a cheaper expression with an outright short and some calls to hedge? Or is this a "big expected downside so go really far out of the money" situation? I just buy long out of the money puts. Very interesting - what dates you buying on the puts?

Axis Capital Holdings with strong cluster of inside buys