G =redit. A Dec LQD 98% Put ($120.00) costs 1.29% ($1.55, ref: $122.80, 7.6 v=l, 38 delta) or sell JGBs. 2. Financials Outperformance: Buy =egional Banks Call. A Dec KRE, 103% Call ($42) costs 3.8% ($1.60, ref: $41=65, 23.0 vol, 36 delta) 3. Or buy a 6M ATM worst-of {XLF (=inancials) call, XLU (utilities