PrintReport ->
Arg Long_total, Short_total,
    Long_to_release, Short_to_release,
    Long_after_expiration, Short_after_expiration : Integer
    Strike_with_minimal_loss, Levels : _, HillValley_price : Float
+

 Step_1 ->

 Say 'Levels are ' Levels.Aim.Hill ', ' Levels.Aim.Ground ', ' Levels.Aim.Valley,
     ''

 Say '-> Option sellers may attract price to one of the levels at the beginning of the month'

 /

+

 Step_2 ->

 Say 'Strike with minimal loss for option writers is ' Strike_with_minimal_loss,
 Say 'Hill/Valley future contract price is ' HillValley_price,
     ''

 Say '-> Market makers will move price ' Up_or_down ' before expiration (but after attack on the level)'
 ' Up_or_down = 'up' [ Strike_with_minimal_loss > HillValley_price .- ] | 'down'
 [ Strike_with_minimal_loss <> HillValley_price .- ]

 Say '-> Market makers will not move price'
 [ Strike_with_minimal_loss = HillValley_price .- ]

 /

+

 Step_3 ->

 Say 'Long to release from synthetic positions is  ' Long_to_release ' (calls out-of-money)',
     'Short to release from synthetic positions is ' Short_to_release ' (puts out-of-money)',
     ''

 Say '-> Arbitragers will push price ' Up_or_down ' before expiration'
 ' Up_or_down = 'up' [ Short_to_release > Long_to_release ] | 'down'
 [ Short_to_release <> Long_to_release ]

 Say '-> Arbitragers will not push price'
 [ Short_to_release = Long_to_release ]

 /

+

 Step_4 ->

 Say 'Long from options is  ' Long_after_expiration ' (calls in-money)',
     'Short from options is ' Short_after_expiration ' (puts in-money)',
     ''

 Say '-> Traders will kick price ' Up_or_down ' after expiration'
 ' Up_or_down = 'up' [ Short_after_expiration > Long_after_expiration ] | 'down'
 [ Short_after_expiration <> Long_after_expiration ]

 Say '-> Traders will not kick price'
 [ Short_after_expiration = Long_after_expiration ]

 /

+

 Step_5 ->

 Say 'Long hedged via calendar spread is  ' Long_total
     'Short hedged via calendar spread is ' Short_total
     ''

 Say '-> Price may rush ' Up_or_down ' after expiration'
 ' Up_or_down = 'up' [ Short_total > Long_total ] | 'down'
 [ Short_total <> Long_total ]

 Say '-> Price would be stable'
 [ Short_total = Long_total ]

 /

+

 Step_6 ->

 Say 'To follow this strategy, use weekly CALL and PUT options together with nearest strikes.'

 /

+

- Step_1 + Say '',
  Step_2 + Say '',
  Step_3 + Say '',
  Step_4 + Say '',
  Step_5 + Say '',
  Step_6 + Say ''

/
