yes the OSX is much better hedge for the ndx (GGGGGGGGGG). hey thats the best way to learn. tuition i call it. i saw your posts on Zeev's thread. qqq much better as someone told you. i sometimes do a similar thing. if i have a fund trade and i think we are going to reverse and go against me in the middle of the day i will put enough puts or calls to offset the damage or melting of existing profits. essentially i go neutral (well at least to the accuracy of my hedge) at the point of my choice then close them out when i sell the fund or possibly hold if still looks good. steve
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