I am rather new to futures trading, but have had some encouraging results so far trading the e-mini. The thing that scares me the most is a world shaking event that halts trading and moves the market 20-30 handles or more (like 9/11). Is this a valid concern? I know that the markets were protected some after 9/11, but a lot of money could potentially be lost. I've been thinking about establishing a strangle position with QQQ leap options. Does anyone have experience with this that could make some recommendations? Since 1 e-mini contract is worth about $50k and one QQQ options contract controls 100 shares worth about $3k, does it make sense to use about 16 pairs of option contracts for each e-mini contract you trade? Is there a better optionable S&P proxy than the QQQ to use? What kind of put/call spread do you use for the strangle? The wider the spread, the cheaper the contract cost, but the greater your potential loss. It also seems that the strangle itself could be profitable over a period of time even if the market doesn't jump on one event. Even though that is not my primary goal, I never turn down a profit. I greatly appreciate any advice from more knowledgeable traders!