Sorry for asking another stupid question Would buying a short position in SPY index fund be a could way to hedge your account from any gapping that may occur in after hours trading. The size of the short would be approximate size of your account. It seem that it only gaps down when there is really bad news. It rarely ever gaps up. If nothing happens you cover your short and move on. Besides being out the commissions (me $15 rt) it seems a good way to insure your long positions with one trade. Is there another way to play both sides of the market on the cheap????