Using the Bloomberg OSA screen, evaluate an insurance and short-range forward position to hedge the futures value of 100 shares of a selected equity ETF (e.g., S\&P 500 Spider, SPY). If there are listed options on the ETF's options, use them; otherwise, use the S\&P spot or futures index options and the price-sensitivity model to determine the number of option contracts needed to set up the hedge. Bloomberg sequence: ETF Ticker ; OSA; load call and put options (for short-range forward position, select a call with a higher exercise price than the put used to create your floor); on the OSA screen select "Market Value" and the expiration date as your evaluation dates.