DAX - Very Interesting Option Strategy

Idea: Playing a correction while allowing 4% upside without pain.

Expiry 17th April 2015
Notional 50%
Net Premium paid: 50 (~25bp)

Asset Side
Buy 100% Put 10,300 For 100% x 166
Sell 200% Put 10,500 For 200% x 40
Buy 100% Put 9,700 For 100% x 18

Liability Side
Sell 100% Call 11,900 For 100% x 67
Buy 100% Call 12,200 For 100% x 24

Max Gain: 800 (~400bp)
Max risk: 300 (~150bp) if above 12200 on the 17th of April.

Comment
- I have 12500 as the possible max top in July. 12000 in April would be steep even considering the current trajectory.