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I am working on doing the selling cash secured Puts on stocks,that you introduced-based on the Jeffrey Cohen book. I would like to use S&P Micro index Futures, instead of buying S&P Options Puts. for the hedging. Do you see any problem with this?

I'm no Mungofitch, but first you'll want to make sure you are doing the type of strategy you want to be doing, because the two investments you mention have opposite goals. Selling cash secured Puts is an inherently Bullish strategy, while using Micro Futures for hedging (i.e. shorting the contract) is a Bearish strategy.

If you want to initiate a bearish Option strategy, you'd either sell covered Calls, or purchase Puts.

And if you want to hedge with Futures, I will hazard a guess that Jim would point you towards the Russell 2000 (small cap) products versus S&P Micros. The S&P is (currently) dominated by a few firms that have been killin' it lately, so it's not necessarily been acting "normal", and might not be the best vehicle for hedging these days.

(The basic Russell 2K Micro Futures ticker is M2K, and then you would normally append the contract expiry symbol and some type of year-designation. At TD Ameritrade, the September 2020 Russell 2K Micro is: /M2KU20. And at Interactive Brokers it's: M2KU0.)

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