...Blind Hog, would you state the basic reasons to use options versus a straight futures position? Please with these caveats, the futures market is 24 hr. so stops would always be filled. Know what, just use the S&P futures versus S&P options.
I'm looking for something deeper than, "you can only lose what you put up when buying a put or call." If one can exit their futures contact when they wish, I continue to see only disadvantages and not advantages to options.

Always, if you have time...TT