Trade the difference.
Hedge the noise.
Start with what you believe. Choose the risk you want less of. See the position, the sizing, and what remains exposed.
Describe your thesis
Make your view and unwanted exposure explicit.
Build the position
Choose the legs and a short-to-long ratio.
If “NVIDIA-linked financing and the broader AI infrastructure cycle” materializes, I expect:
Inspect the exposure
Illustrative position at current mark prices.
Funding uses current hourly rates held constant for 24 hours. Excludes fees, slippage, basis changes, and liquidation risk.
A hedge is a choice about
which risks to keep.
Scenario neutral sizes the short using your assumed percentage move for each leg under the named risk. Dollar neutral uses a 1× ratio. Historical minimum variance estimates how much the short leg has moved with the long leg over roughly 90 days.
Scenario inputs are your assumptions, not forecasts. Historical co-movement does not isolate a named business risk. Use filings and judgment to decide whether the short leg offsets the exposure you care about.