Thats an awesome explanation, I thought you were trying to day trade the bumps.
IMO with NAB at 8% dividend and CBA at 5.8% dividend it would have to close the Gap in Yields.
My Charting opinion is that Banks look like taking a hit soon. Reasons, mabe tax loss sells for the next few days. Also The risk of a Labor win and a Royal Commission into banking. As thats a promise by Labor if they win the election will enforce a Royal Commission into Banking here.
Other than that the Charts on banks are all bearish structures, if the patterns continue and roll out could see NAB at 20- and CBA around 50-. But that would put you 10- up on the ratio trade.
Interesting Trade for me to keep an eye on.
Covered Call, page-29
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