I would advise to open account on
https://icbit.seThey operate derivatives market in bitcoins
Good hedge would be to sell future contract(s). It will lock you rate of exchange in some point in time in the future for agreed Notional amount of BTC.
In the case bitcoin crashes you will be able to sell it at current market price.
In the case bitcoin will go up, you will lose out the difference between current market price and future rice.
I'm interested in
https://icbit.se as well. However, don't they (Or any other service that sells futures) introduce a counterparty risk?
Given all the wallet/exchange services that have been hacked or disappeared. It seems not sensible to leave funds at the exchange for a few months.
Please, correct me if I misunderstood how they work.