Thank you, ITZ. I highly respect your opinions, and I very much agree with you ! I know the rewards are far greater with futures rather than options, and I use both. I am just a farmer who hedges some, and speculates a little. The hogs are purely spec, since we haven't had a hog on the farm in years. I guess I must miss 'em ! I must be lucky, but I've done fairly well buying options. I know unless the market makes a big move, I'd be better with futures. Thanks again for helping me out. I learn a lot here.