1. Take highly correlated products like SPY/SSO, or some ETF short/ultrashort pairs. 2. Put bids/offers out in the spread market a few cents out of market and wait for the products to get out of wack 3. Play the mean reversion. The only thing this strategy requires is an autospreader fast enough to capture these small price deviations....you almost can't lose. Thoughts from all the pairs traders out there?