time to short monday?
getting set is more about picking the time than the level
the time to buy the puts is when the current rally runs out of steam. this will probably happen within days and not weeks or months.
if NCP crosses $11.55 on Monday this should be a good time. The DOW rally must falter and NCP is only rising as a proxy for the rise in US markets..it is on fundamentals worth about $5
however this leaves NCP WOT about 55 cents out of the money which would seem not to be good value at about 12 cents
the choice would be ETO with a strike of about $11.50
