Hi guys, I am looking for the best option hedge for the following: I will be buying calls just before expiry. Saying $10k worth. I want to hedge this position with another option play worth $10k. If the market goes up a lot, I want to profit from the calls. If the market doesn't move and the calls expiry worthless, I want the hedge to cover the costs, less fees, and spreads. Thank you in advance for your help
You forgot about the "And I want no risk!" part..... https://www.thisiswhyimbroke.com/bag-of-unicorn-farts/
Sell a ton of puts. If you sell enough you can even make money if the market doesn't move and the calls expire worthless.
No free lunch in this world, there are games to play in options you can get close, but I think you are crazy just like me.