Thank you very much for taking time to help me understand another facet of the hog market ! I'm glad I'm not the only one confused when the market seems to go the opposite direction of what seems to make sense ! No wonder that I did well on my first few trades....I WAS SO WRONG, I WAS RIGHT. :) I took profits on one of my Oct puts last week. Probably should have cashed them all in, but I've been known to get out way too early. Or too late.