Hi there, I trade alpha on correlated stocks. Some of my analysis seem to suggest that the spread, mean reverts faster than one would expect of a random walk. If this is the case then selling the vol appears to be a reasonable stratergy using options. So if i am long share A short share B --Then to sell vol i'd write a staddle option sell call A sell put A (at them money in all cases) buy call B sell put B Does this seem like a good stratergy or am I better off just sticking to the long short futures? ( I am hoping to eliminate some of the risk of the spread increasing in return for less upside) tanks Tom