No hitman, I did not sell options, I sold the underlying contract that the options are based on, the futures contract.
It is traded just like cattle, beans, corn, gold, silver, etc...are traded, on the futures market.
1 contract is worth $10 X Dow =$104,330
The margin requirement, through my firm is around $5000 per contract, so basically, you are getting 21 to 1 leverage....a 100 point drop in the dow, would be a $1000 profit, and a 20% return on your "investment" (if that's what you want to call it).
On the downside, if the dow went up to 10933, I would lose my entire $5000..(margin) on the trade, for a 100% loss.
I am well on ahead, on the short @10680, and made a decision then, that I would sell it all the way down. I have stops, (get out of the market) at 11001.
Iron.