What are the main advantages of options on the ym? Is it the fact that you gain increased leverage by only margining about 420 dollars versus 2,500 rounding per contract? Moreover, if you are buying a put for jan. 07 at 11,800 for 85.....what does the 85 represent besides the market premium.....as it isn`t the strike price premium like stock options....so what does the 85 actually represent in the market...besides 85x(5)=the margin requirement?----Is this how the margin requirement is set in the first place? Whatever price between the bid and ask is negotiated determines this premium/margin requirement.....this doesn`t seem objective....and why 77 for the bid and 87 for the ask......what market conditions are these bid and ask prices being generated/related/based upon? thanks for the help I couldn`t find much useful from the cbot site besides generalities.