One can use future and options to hedge against his stock holdings, rather than only trading on futures and options. One can use short futures to lock in profits or use put options to make money on the downside. One can also consider writing higher call options to reduce the cost of holding stock instead of sitting on notional losses.

These strategies to trade in derivatives will help in improving profits and enabling the traders to play markets on the downside. In fact, if one plays it carefully he could maximize profits. 

While making any move in the market, one should make sure that are keeping a close eye on the market, sometimes trading decisions could turn out to be wrong. To make sure that you don’t suffer huge losses in the market, take your decisions wisely and do not judge the possible lowest a market can reach.