I'm interested in getting some details about using options as a stop for futures intraday trading. More specifically, say I'm long 10 emini SP (ES) and I've determined that I would like to enter my (put) option's stop if the ES price reaches, say, a level of 1400. My reason to use an option as a stop is that I would like to guard my downside but at the same time if the ES rebounds I would exit it with a profit and exit the options at a small loss. The questions I have are: 1) How far in-the-money should the put option be to be used as a stop? In other words, if the option stop is entered at 1400, what would be a good strike price of the option that I use? 2) How many put contracts do I need to buy to completely hedge my 10 ES contracts? 3) Since I'm interested in day trading, I would imagine that the front month (serial) option would be the best? For example, now I would be using the April expiration options. Any information concerning this would be appreciated.