Brennen81

Hello. I am hoping someone could help me with the scenario proposed. I would like to Long CELG and Short C, evenly, with options. What I am tying to figure out is how to have them react in the same way. For example. Lets say I thought they were going in their respective way by 10%. CELG up and C down. The direct stock purchase/short way is pretty simple, buy and short the same $ worth of each stock. Now with options it's not so simple. These are the possibilities I am thinking. Starting with delta neutral. (Numbers are as of close today) CELG - $142.60......C - $47.30 CELG May 23 142 Call....$5.35 (Bid).......0.537 Delta C May 23 47.5 Put........$1.03 (Bid)......-0.525 Delta Would either of the following make sense: 1) Purchase 3 C puts because CELG stock is about 3 times the price of C 2) Purchase 5 C Puts because the CELG Call is about 5 times the price of the C Put Maybe I am way off from the beginning. But if anyone has any more experienced thoughts, I would love to hear. Thanks Brandon