Long Term Hedge for Intraday Position?

[maildigger 10]

I trade the ES intraday. I use fairly small stops (2.5 points). My average position uses a leverage of 6.5x the value of my account (If I use a 100K$ account, I trade 10 contracts which is the equivalent of +- 650K$). When in a trade I want to risk at max 1% of the account value. This is under "normal" conditions.

 

But what happens if I ever get stuck in position due to a "disaster event" (markets close when in a long position, opens up later with a gap down)? The leverage will hit my account substantially.

 

Is there a way I could use a long term position in another instrument to protect my account? Maybe put options? Any ideas about this? Is this do-able?

[Northern boy 10]

well you could go long a straddle every day, but it would cost you a lot of commission to reset that option position every day to protect you from something that will hardly happen.. your software isn't that bad is it?