Using the risk reversal options strategy:

Calculations employed to create the hedge

• Write 5X the PEP March $145 calls at $16.77, and buy 5X the PEP $140 puts at $0.09
• Write 5X the USO March $40 calls at $27.50, and buy 5X the USO $35 puts at $0.07
• Write 5X the SBUX March $75 calls at $12.15, and buy 5X the SBUX $65 puts at $0.04
• Write 5X the YETI March $58 calls at $4.10, and buy 5X the YETI $45 puts at $0.47
• Write 5X the JNJ March $145 calls at $19.20, and buy 5X the JNJ $115 puts at $0.03

Portfolio losses for a range of underlying market moves

Market moves	PEP	USO	SBUX	YETI	JNJ
-10%
-5%
0%
5%
10%