I'm a 26 year old real estate private equity analyst and have just started diving into the world of options. I have allocated ~20k to start trading with (though I obviously won't plow it all into an asset class for which I am a complete novice at one time). Right now I am of the mindset that this market is massively frothy. I have exited nearly all of my long equity positions, and would like to execute a bearish strategy over the next 9-12 months, at least. My initial thought is to buy short term, slightly out of the money index calls (most likely on the S&P), while simultaneously buying longer term (6-12 month maturity), further out of the money puts. Thematically, I expect a fairly significant, broad market correction in the medium term, but I would like to maintain some small upside if this market gets even more out of whack. I want far more exposure to a market correction than I do to continued upward movement. I'm here to deepen my knowledge of options trading and refine my strategy, so feel free to call what I have outlined above a complete joke. I'm looking forward to your responses.