I've recently expanded my futures trading to include gold. I looked at the ZG and GC contracts, and went with GC due to the higher volumes. (BTW, is there some other reason that I should consider the ZG?) The problem I'm having is that I would like to buy some way-OTM puts for protection. However, I'm having trouble getting quotes for puts on either the ZG or the GC contract. The ZG doesn't surprise me, because the open interest in options there is miniscule. But I don't understand about the GC options. My broker doesn't seem to report bid/ask on many of these, and the ones that do show b/a have a quantitiesof 0 shown. I understand that these options trade in the pits. Is that the reason? If so, since I've never traded anything that trades in the pits, how do you go about getting quotes? Compared to this, buying puts on the ER2 contract is a piece of cake. But maybe I'm missing something..... I hope.