Paragon Global Markets
HiProb Capital Management LLC
Neutral Plus
Index Option Spreads / Plus Box Option Spreads | Spread Trading, Arbitrage, and hedging
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Month Performance
+1.08%
Sep 2026
YTD Return
+14.39%
Through Sep 2026
AUM
$13,500,000
Assets Under Management
Overview
Neutral-Plus is an extension of Neutral and augments Neutral by fully utilizing daily margin limits. Since August 2022, Neutral-Plus has increased additional trading on days of expiration. Since February 2023, Neutral-Plus has also added box option spreads on S&P500 futures, generating extra profits. A box option spread is a more flexible and efficient way to capture the “risk-free” rate than similar duration T-bills.
Program Details
| Inception Date | Aug 2022 |
| Trading Style | Spread Trading, Arbitrage, and hedging |
| Holding Period | Long Term, Medium Term, Short Term, Intraday |
| Markets Traded | Stock Indices |
| Margin | 10% to 30% |
| Minimum Investment | $1,000,000 |
| Management Fee | 2% |
| Performance Fee | 20% |
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 | +23.15% | +9.18% | +22.33% | +5.82% |
Maximum Drawdown Since Inception
-3.52%
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.