Paragon Global Markets
HiProb Capital Management LLC
Neutral
Index Option Spreads | Spread Trading, hedging with SP500 futures
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Month Performance
+0.39%
Sep 2026
YTD Return
+4.64%
Through Sep 2026
AUM
$20,000,000
Assets Under Management
Overview
The Neutral strategy aims to generate consistent absolute returns while reducing risk exposure. It primarily invests in near-expiration option spreads on S&P500 futures. Positions are structured to be market (Delta) neutral and Vega neutral to limit exposure to market risks. The strategy is designed to profit in both rising and falling markets with a high probability of generating profits. It evolved from our extensive experience in trading index futures and related options, and utilizes our patent-pending techniques to identify market inefficiencies and make high-probability trades only when expected profits significantly exceed expected losses.
Program Details
| Inception Date | Sep 2015 |
| Trading Style | Spread Trading, hedging with SP500 futures |
| Holding Period | Short Term, Intraday |
| Markets Traded | Stock Indices |
| Margin | 10%-50% |
| Minimum Investment | $500,000 |
| Management Fee | 2.00% |
| Performance Fee | 20.00% |
This is a snapshot only. Investors should read the applicable Disclosure/Offering documents to determine suitability.
GROWTH OF $1,000 VAMI
Program vs. Autumn Gold CTA Index
Hypothetical growth of $1,000 based on reported monthly returns.
Autumn Gold CTA Index:
The Autumn Gold CTA Index is a non-investable index comprised of performance from CTA programs included in the Autumn Gold database and does not represent the complete universe of CTAs.
PERFORMANCE SUMMARY
| YEAR | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| RETURN | +10.38% | +3.07% | +6.96% | +7.52% |
Maximum Drawdown Since Inception
-2.17%
Past performance is not indicative of future results.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
THE RISK OF TRADING COMMODITY FUTURES, OPTIONS, CRYPTO FUTURES, AND/OR FOREIGN EXCHANGE ("FOREX") IS SUBSTANTIAL. THE HIGH DEGREE OF LEVERAGE ASSOCIATED WITH COMMODITY FUTURES, OPTIONS, CRYPTO FUTURES, AND FOREX CAN WORK AGAINST YOU AS WELL AS FOR YOU. THIS HIGH DEGREE OF LEVERAGE CAN RESULT IN SUBSTANTIAL LOSSES, AS WELL AS GAINS. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THIS MATTER IS INTENDED AS A SOLICITATION TO INVEST IN MANAGED FUTURES. AN INVESTOR MUST READ AND UNDERSTAND THE CTA’S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. THIS MATTER IS INTENDED AS A SOLICITATION TO INVEST IN MANAGED FUTURES.