Strategy, Swap and Algo

delta cross
(1) a future hedge, both maturity and currency of
   mismatch underlying
(2) P+C, negative move of C=>positive move of P

Collars -- put-call after stock gain-hedge wrapper
booster -- 1x2 call ratio spread c-2c
straddle --p+c
strangle --p+c different strike, wider.
butterfly- c-2c+c= short one call spread +long a call spread
Risk Reversal -- c-p

dividend swap -- fixed vs total div paid by underlying
             x Notional shares, single stock or basket
variance swap-- one lege pay var of Px move, one pay fix strike.
     (var strike, realized var, vega notional)
     Exchange Rate, interest rate, stock index vol.

Correlation swap--

which swap are delta 1-- divd, all swap are delta 1???

algo:
reserve -- block options, post small slice,rest in reserve
       replenish on exec, stop loss cxl, auto-hedge each slice
price movement -- walk from mid to stop, sweep/re-sweep by short-lived
       limit order. stop walk if underlying cross threshold, auto-hedge
       on execution.
vol post---reserve+limit price=continous re-calc(spot,vol limit)
         each exec => stock order, keep delta exposure thresthold
vol stealth --limit=continous re-calc(spot,vol limit), 
     monitor NBBO Sweep by IOC,exec=>stock order for delta
NBBO =national best bid/offer.