Every work day here in the Netherlands I walk from my apartment to the train station. It is a 30 minutes walk and I do plenty reflections during that time.
Futures -vs- Options were in my mind today. Futures provide delta of 100, but it can wipe the margin out very easily. While option prices go up and down with the underlying price, it in fact is a simple to the bone supply and demand relationship. The underlying of an option contract changes the expected value of the option contract and hence drive the option price.
Anyway, this is no news. Options provides a little more protection, because it will somehow has some time value into it, whereas Futures does not, just a straight 100 delta, $100 dollar is awarded -or- subtracted for every point movement.
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