I've been afraid to trade the hogs for awhile, since I don't have deep pockets ! After the close on Friday March 27, I was trying to figure out a fairly safe way to participate, I got busy, and didn't do the trade, but this was my thought. An option strangle. The M20 was trading at 64.250. I'd buy a 55.00 put for $1000 and a 72.00 call for $1000. On Friday after only 5 trading days, M20 is $48.325. The 55.00 put is now $4640, and the 72.00 call is $360, so the put is + $3640 and the call is - $640, for a 3000.00 profit. The danger with this is a sideways market, but I don't that is going to happen !