Hi, I'm trading a strategy that leaves me pretty exposed on delta to the downside... not a problem during the day, but large overnight moves (say +/-4%) have the potential of really hurting me. And I don't get any of the upside. My question is... what's a good choice for hedging against major overnight moves? I'm thinking options or other derivitives for the leverage, obviously. I was contemplating opening the position at 3:55 PM every day, and then closing at 9:45 the following morning. I figure I'll lose a little due to theta, but not much. The obvious choice would just be a straddle... But I'm just a boring uninformed retail guy, so I don't know about a lot of the possibilities out there. Any other strategies that would make sense? Any suggestions on what symbol I should straddle on? Just SPY?