Managed Futures Premier Warrington 10-Q 14 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 31, 2013	Oct. 31, 2013
		Class A [Member]	Class D [Member]
Document Information [Line Items]	'	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	30-Sep-13	'	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'Q3	'	'
Entity Registrant Name	'MANAGED FUTURES PREMIER WARRINGTON L.P.	'	'
Entity Central Index Key	'0001353282	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Non-accelerated Filer	'	'
Entity Limited Partnership Redeemable Units Outstanding	'	137,438.27	3,305.93

Statements_of_Financial_Condit

Statements of Financial Condition (USD $)	Sep. 30, 2013	Dec. 31, 2012
Equity in trading account:	'	'
Cash	$156,501,076	$159,929,328
Cash margin	19,796,591	9,339,415
Net unrealized appreciation on open futures contracts	0	1,264,688
Options purchased, at fair value	3,644,775	926,250
Total trading equity	179,942,442	171,459,681
Interest receivable	1,400	7,077
Total assets	179,943,842	171,466,758
Liabilities:	'	'
Options premium received, at fair value	4,077,400	38,250
Accrued expenses:	'	'
Brokerage fees	552,139	521,907
Management fees	291,909	284,723
Administrative fees	72,977	71,181
Other	169,055	72,795
Redemptions payable	3,432,216	2,210,623
Total liabilities	8,595,696	3,199,479
Partners' Capital:	'	'
Total partners' capital	171,348,146	168,267,279
Total liabilities and partners' capital	179,943,842	171,466,758
Class A [Member]	'	'
Partners' Capital:	'	'
General Partner	0	0
Limited Partners	164,023,450	160,930,934
Total partners' capital	164,023,450	160,930,934
Net asset value per unit:	'	'
Net asset value per unit	1,192.10	1,227.60
Class D [Member]	'	'
Partners' Capital:	'	'
General Partner	1,745,955	1,767,775
Limited Partners	5,578,741	5,568,570
Total partners' capital	$7,324,696	$7,336,345
Net asset value per unit:	'	'
Net asset value per unit	1,210.65	1,225.78

Statements_of_Financial_Condit1

Statements of Financial Condition (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Cost of options purchased	$2,268,988	$698,250
Premium value	$2,149,687	$451,750
Class A [Member]	'	'
General Partner unit equivalents outstanding	0	0
Limited Partners Redeemable units outstanding	137,591.73	131,093.45
Class D [Member]	'	'
General Partner unit equivalents outstanding	1,442.16	1,442.16
Limited Partners Redeemable units outstanding	4,608.06	4,542.86

Condensed_Schedule_of_Investme

Condensed Schedule of Investments (USD $)	Sep. 30, 2013	Dec. 31, 2012
Schedule of Investments [Line Items]	'	'
Fair Value	($432,625)	$2,152,688
% of Partners' Capital	-0.25%	1.28%
Call Option [Member] | Call or Put options premium received [Member]	'	'
Schedule of Investments [Line Items]	'	'
Number of Contracts	'	2,540
Fair Value	'	-19,250
% of Partners' Capital	'	-0.01%
Put Option [Member] | Call or Put options purchased [Member]	'	'
Schedule of Investments [Line Items]	'	'
Number of Contracts	2,007	1,710
Fair Value	3,644,775	926,250
% of Partners' Capital	2.13%	0.55%
Put Option [Member] | Call or Put options premium received [Member]	'	'
Schedule of Investments [Line Items]	'	'
Number of Contracts	3,002	1,520
Fair Value	-4,077,400	-19,000
% of Partners' Capital	-2.38%	-0.01%
Options Purchased Indices [Member] | Call or Put options purchased [Member]	'	'
Schedule of Investments [Line Items]	'	'
Fair Value	3,644,775	926,250
% of Partners' Capital	2.13%	0.55%
Options Premium Received Indices [Member] | Call or Put options premium received [Member]	'	'
Schedule of Investments [Line Items]	'	'
Fair Value	-4,077,400	-38,250
% of Partners' Capital	-2.38%	-0.02%
Futures Contracts Purchased Indices [Member] | Call or Put options purchased [Member]	'	'
Schedule of Investments [Line Items]	'	'
Number of Contracts	'	190
Fair Value	'	1,264,688
% of Partners' Capital	'	0.75%
Future Contracts Purchased [Member] | Call or Put options purchased [Member]	'	'
Schedule of Investments [Line Items]	'	'
Fair Value	'	$1,264,688
% of Partners' Capital	'	0.75%

Statements_of_Income_and_Expen

Statements of Income and Expenses (USD $)	3 Months Ended				9 Months Ended
	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Investment Income:	'		'		'		'
Interest income	$5,849		$20,122		$34,152		$49,197
Expenses:	'		'		'		'
Brokerage fees including clearing fees	1,918,177		1,659,680		5,774,163		5,008,788
Management fees	868,125		820,556		2,576,608		2,384,165
Administrative fees	217,032		205,139		644,152		596,040
Other	46,001		63,529		256,281		182,967
Total expenses	3,049,335		2,748,904		9,251,204		8,171,960
Net investment income (loss)	-3,043,486		-2,728,782		-9,217,052		-8,122,763
Net gains (losses) on trading of commodity interests:	'		'		'		'
Net realized gains (losses) on closed contracts	8,320,438		9,422,786		6,764,044		21,449,217
Change in net unrealized gains (losses) on open contracts	-961,895		-5,528,031		-2,458,114		-1,333,024
Total trading results	7,358,543		3,894,755		4,305,930		20,116,193
Net income (loss)	4,315,057		1,165,973		-4,911,122		11,993,430
Net income (loss) allocation by class:	'		'		'		'
Net income (loss)	4,315,057		1,165,973		-4,911,122		11,993,430
Class A [Member]	'		'		'		'
Net gains (losses) on trading of commodity interests:	'		'		'		'
Net income (loss)	4,081,499		1,077,317		-4,836,237		11,345,602
Net income (loss) allocation by class:	'		'		'		'
Net income (loss)	4,081,499		1,077,317		-4,836,237		11,345,602
Net asset value per unit	'		'		'		'
Net asset value per unit	1,192.10		1,191.30		1,192.10		1,191.30
Net income (loss) per unit	'		'		'		'
Net income (loss) per unit	$29.43	[1]	$8.15	[1]	($35.50)	[1]	$88.69	[1]
Weighted average units outstanding	'		'		'		'
Weighted average units outstanding	139,842.98		132,317.85		137,336.42		132,465.65
Class D [Member]	'		'		'		'
Net gains (losses) on trading of commodity interests:	'		'		'		'
Net income (loss)	233,558		88,656		-74,885		647,828
Net income (loss) allocation by class:	'		'		'		'
Net income (loss)	$233,558		$88,656		($74,885)		$647,828
Net asset value per unit	'		'		'		'
Net asset value per unit	1,210.65		1,182.85		1,210.65		1,182.85
Net income (loss) per unit	'		'		'		'
Net income (loss) per unit	$36.53	[1]	$14.71	[1]	($15.13)	[1]	$106.43	[1]
Weighted average units outstanding	'		'		'		'
Weighted average units outstanding	6,387.24		6,028.36		6,114.60		6,274.20
[1]	Based on change in net asset value per unit.

Statements_of_Income_and_Expen1

Statements of Income and Expenses (Parenthetical)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Class A [Member]	'	'	'	'
Units outstanding	137,591.73	130,814.12	137,591.73	130,814.12
Class D [Member]	'	'	'	'
Units outstanding	6,050.22	5,428.36	6,050.22	5,428.36

Statements_of_Changes_in_Partn

Statements of Changes in Partners' Capital (USD $)	Total	Limited Partners [Member]	General Partner [Member]	Class A [Member]	Class A [Member]	Class A [Member]	Class D [Member]	Class D [Member]	Class D [Member]
					Limited Partners [Member]	General Partner [Member]		Limited Partners [Member]	General Partner [Member]
Partners' capital, amount, beginning balance at Dec. 31, 2011	$157,648,425	'	'	$150,238,249	'	'	$7,410,176	'	'
Partners' capital, units, beginning balance at Dec. 31, 2011	143,140.53	'	'	136,256.43	'	'	6,884.11	'	'
Net income (loss)	11,993,430	'	'	11,345,602	'	'	647,828	'	'
Subscriptions, amount	'	19,715,276	'	'	18,990,276	'	'	725,000	'
Subscriptions, units	'	17,152.12	'	'	16,511.06	'	'	641.0593	'
Redemptions, amount	'	-26,197,000	-899,752	'	-24,734,674	0	'	-1,462,326	-899,752
Redemptions, units	'	-23,237.73	-812.4426	'	-21,953.36	0	'	-1,284.36	-812.4426
Partners' capital, amount, ending balance at Sep. 30, 2012	162,260,379	'	'	155,839,453	'	'	6,420,926	'	'
Partners' capital, units, ending balance at Sep. 30, 2012	136,242.48	'	'	130,814.12	'	'	5,428.36	'	'
Partners' capital, amount, beginning balance at Jun. 30, 2012	'	'	'	'	'	'	'	'	'
Net income (loss)	1,165,973	'	'	1,077,317	'	'	88,656	'	'
Partners' capital, amount, ending balance at Sep. 30, 2012	162,260,379	'	'	155,839,453	'	'	6,420,926	'	'
Partners' capital, units, ending balance at Sep. 30, 2012	136,242.48	'	'	130,814.12	'	'	5,428.36	'	'
Partners' capital, amount, beginning balance at Dec. 31, 2012	168,267,279	'	'	160,930,934	'	'	7,336,345	'	'
Partners' capital, units, beginning balance at Dec. 31, 2012	137,078.47	'	'	131,093.45	'	'	5,985.02	'	'
Net income (loss)	-4,911,122	'	'	-4,836,237	'	'	-74,885	'	'
Subscriptions, amount	'	36,523,102	'	'	35,123,102	'	'	1,400,000	'
Subscriptions, units	'	30,322.96	'	'	29,157.56	'	'	1,165.39	'
Redemptions, amount	'	-28,531,113	'	'	-27,194,349	'	'	-1,336,764	'
Redemptions, units	'	-23,759.47	'	'	-22,659.29	'	'	-1,100.19	'
Partners' capital, amount, ending balance at Sep. 30, 2013	171,348,146	'	'	164,023,450	'	'	7,324,696	'	'
Partners' capital, units, ending balance at Sep. 30, 2013	143,641.95	'	'	137,591.73	'	'	6,050.22	'	'
Partners' capital, amount, beginning balance at Jun. 30, 2013	'	'	'	'	'	'	'	'	'
Net income (loss)	4,315,057	'	'	4,081,499	'	'	233,558	'	'
Partners' capital, amount, ending balance at Sep. 30, 2013	$171,348,146	'	'	$164,023,450	'	'	$7,324,696	'	'
Partners' capital, units, ending balance at Sep. 30, 2013	143,641.95	'	'	137,591.73	'	'	6,050.22	'	'

General

General	9 Months Ended
	Sep. 30, 2013
General	'
	1.    General:
	Managed Futures Premier Warrington L.P. (formerly known as Warrington Fund L.P.) (the “Partnership”) is a limited partnership organized on November 28, 2005, under the partnership laws of the State of New York to engage in the speculative trading of commodity interests including futures and options contracts. The Partnership does not currently intend to, but may in the future, engage in transactions in spot and forward markets. The Partnership primarily trades futures and options in the stock indices sector. The Partnership may, however, also trade in additional sectors including U.S. Treasury bonds, currencies, gold, silver and energy products. The Partnership commenced trading on February 21, 2006. The commodity interests that are traded by the Partnership are volatile and involve a high degree of market risk. The Partnership privately and continuously offers redeemable units of limited partnership interest (“Redeemable Units”) in the Partnership to qualified investors. There is no maximum number of Redeemable Units that may be sold by the Partnership.
	Ceres Managed Futures LLC, a Delaware limited liability company, acts as the general partner (the “General Partner”) and commodity pool operator of the Partnership. The General Partner is wholly owned by Morgan Stanley Smith Barney Holdings LLC (“MSSB Holdings”). MSSB Holdings is ultimately owned by Morgan Stanley. Morgan Stanley is a publicly held company whose shares are listed on the New York Stock Exchange. Morgan Stanley is engaged in various financial service and other businesses. Prior to June 28, 2013, Morgan Stanley indirectly owned a majority equity interest in MSSB Holdings and Citigroup Inc. indirectly owned a minority equity interest in MSSB Holdings. Prior to July 31, 2009, the date as of which MSSB Holdings became its owner, the General Partner was wholly owned by Citigroup Financial Products Inc., a wholly owned subsidiary of Citigroup Global Markets Holdings Inc., the sole owner of which is Citigroup Inc.
	On June 15, 2011, the Partnership began offering “Class A” Redeemable Units and “Class D” Redeemable Units pursuant to the offering memorandum. All outstanding Redeemable Units on June 15, 2011, were Class A Redeemable Units. The rights, powers, duties and obligations associated with the investment in Class A Redeemable Units were not changed. On October 1, 2011, the first Class D Redeemable Units were issued to limited partners of the Partnership (each a “Limited Partner.”) Class A Redeemable Units and Class D Redeemable Units will each be referred to as a “Class” and collectively referred to as the “Classes.” The Class of Redeemable Units that a Limited Partner receives will generally depend upon the amount invested in the Partnership, although the General Partner may determine to offer Class A Redeemable Units or Class D Redeemable Units to investors in its sole discretion.
	As of September 30, 2013, all trading decisions for the Partnership are made by Warrington Asset Management, LLC (the “Advisor”). In addition, the Advisor is a special limited partner (the “Special Limited Partner”) of the Partnership. During the period covered by this report, the Partnership’s commodity brokers were Citigroup Global Markets, Inc. (“CGM”) and/or Morgan Stanley & Co. (“MS&Co.”).
	The General Partner and each Limited Partner share in the profits and losses of the Partnership, after the allocation to the Special Limited Partner, in proportion to the amount of Partnership interest owned by each, except that no Limited Partner is liable for obligations of the Partnership in excess of its capital contribution and profits, if any, net of distributions and losses, if any.
	The Partnership’s trading of futures and options contracts, if applicable, on commodities is done primarily on United States of America and foreign commodity exchanges. During the period covered by this report, the Partnership engaged in such trading through a commodity brokerage accounts maintained with CGM and/or MS & Co.
	The accompanying financial statements and accompanying notes are unaudited but, in the opinion of management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the Partnership’s financial condition at September 30, 2013, and December 31, 2012, and the results of its operations and changes in partners’ capital for the three and nine months ended September 30, 2013, and 2012. These financial statements present the results of interim periods and do not include all disclosures normally provided in annual financial statements. You should read these financial statements together with the financial statements and notes included in the Partnership’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) for the year ended December 31, 2012.
	The preparation of financial statements and accompanying notes in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the General Partner to make estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses, and related disclosures of contingent assets and liabilities in the financial statements and accompanying notes. As a result, actual results could differ from these estimates.
	Due to the nature of commodity trading, the results of operations for the interim periods presented should not be considered indicative of the results that may be expected for the entire year.

Financial_Highlights

Financial Highlights	9 Months Ended
	Sep. 30, 2013
Financial Highlights	'
	2.    Financial Highlights:
	Changes in net asset value per unit for each Class for the three and nine months ended September 30, 2013 and 2012 were as follows:
			Three Months						Three Months						Nine Months						Nine Months
			Ended						Ended						Ended						Ended
			September 30, 2013						September 30, 2012						30-Sep-13						September 30, 2012
			Class A			Class D			Class A			Class D			Class A			Class D			Class A			Class D
	Net realized and unrealized gains (losses) *		$	37.11		$	44.33		$	15.89		$	22.37		$	(11.51	)	$	9.04		$	111.16		$	128.57
	Interest income			0.05			0.05			0.14			0.14			0.26			0.27			0.36			0.36
	Expenses **			(7.73	)		(7.85	)		(7.88	)		(7.80	)		(24.25	)		(24.44	)		(22.83	)		(22.50	)
	Increase (decrease) for the period			29.43			36.53			8.15			14.71			(35.50	)		(15.13	)		88.69			106.43
	Net asset value per unit, beginning of period			1,162.67			1,174.12			1,183.15			1,168.14			1,227.60			1,225.78			1,102.61			1,076.42
	Net asset value per unit, end of period		$	1,192.10		$	1,210.65		$	1,191.30		$	1,182.85		$	1,192.10		$	1,210.65		$	1,191.30		$	1,182.85
	*	Includes brokerage fees and clearing fees.
	**	Excludes brokerage fees and clearing fees.
			Three Months						Three  Months						Nine Months						Nine Months
			Ended						Ended						Ended						Ended
			September 30, 2013						September 30, 2012						September 30, 2013						September 30, 2012
			Class A			Class D			Class A			Class D			Class A			Class D			Class A			Class D
	Ratios to average net assets:***
	Net investment income (loss)			(7.2	)%		(5.1	)%		(6.8	)%		(4.5	)%		(7.4	)%		(5.1	)%		(7.1	)%		(4.9	)%
	Allocation to Special Limited Partner			—	%		—	%		—	%		—	%		—	%		—	%		—	%		0	%
	Net investment income (loss) before allocation to Special Limited Partner ****			(7.2	)%		(5.1	)%		(6.8	)%		(4.5	)%		(7.4	)%		(5.1	)%		(7.1	)%		(4.9	)%
	Operating expense			7.2	%		5.1	%		6.9	%		4.5	%		7.5	%		5.1	%		7.1	%		5	%
	Allocation to Special Limited Partner			—	%		—	%		—	%		—	%		—	%		—	%		—	%		—	%
	Total expenses			7.2	%		5.1	%		6.9	%		4.5	%		7.5	%		5.1	%		7.1	%		5	%
	Total return:
	Total return before allocation to Special Limited Partner			2.5	%		3.1	%		0.7	%		1.3	%		(2.9	)%		(1.2	)%		8	%		9.9	%
	Allocation to Special Limited Partner			—	%		—	%		—	%		—	%		—	%		—	%		—	%		—	%
	Total return after allocation to Special Limited Partner			2.5	%		3.1	%		0.7	%		1.3	%		(2.9	)%		(1.2	)%		8	%		9.9	%
	***	Annualized (except allocation to Special Limited Partner, if applicable).
	****	Interest income less total expenses (exclusive of allocation to Special Limited Partner, if applicable).
	The above ratios may vary for individual investors based on the timing of capital transactions during the period. Additionally, these ratios are calculated for the Limited Partner Classes using the Limited Partners’ share of income, expenses and average net assets.

Trading_Activities

Trading Activities	9 Months Ended
	Sep. 30, 2013
Trading Activities	'
	3.    Trading Activities:
	The Partnership was formed for the purpose of trading contracts in a variety of commodity interests, including derivative financial instruments and derivative commodity instruments. The results of the Partnership’s trading activities are shown in the Statements of Income and Expenses.
	Effective August 15, 2013, the Partnership entered into a futures brokerage account agreement with MS&Co., a registered futures commission merchant, and began transferring the brokerage account of the Partnership from CGM to MS&Co. The Partnership will pay MS&Co. trading fees for the clearing and, where applicable, execution of transactions. See Part II, Item 5 for additional information.
	The customer agreements between the Partnership and CGM and the Partnership and MS&Co., give the Partnership the legal right to net unrealized gains and losses on open futures contracts. The Partnership nets, for financial reporting purposes, the unrealized gains and losses on open futures and option contracts on the Statements of Financial Condition as the criteria under Accounting Standards Codification (“ASC”) 210-20, “Balance Sheet,” have been met.
	Brokerage fees are calculated as a percentage of the Partnership’s adjusted net asset value on the last day of each month and are affected by trading performance, subscriptions and redemptions.
	All trading, exchange, clearing, user, give-up, floor brokerage and National Futures Association fees (collectively, the “clearing fees”) are borne by the Partnership.
	All of the commodity interests owned by the Partnership are held for trading purposes. The monthly average number of option contracts traded during the three months ended September 30, 2013, and 2012 were 9,068 and 11,565 respectively. The monthly average number of option contracts traded during the nine months ended September 30, 2013, and 2012 were 11,550 and 15,411, respectively.
	On January 1, 2013, the Partnership adopted Accounting Standards Update (“ASU”) 2011-11, “Disclosure about Offsetting Assets and Liabilities” and ASU 2013-01, “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.” ASU 2011-11 created a new disclosure requirement about the nature of an entity’s rights to setoff and the related arrangements associated with its financial instruments and derivative instruments, while ASU 2013-01 clarified the types of instruments and transactions that are subject to the offsetting disclosure requirements established by ASU 2011-11. Entities are required to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. The objective of these disclosures is to facilitate comparison between those entities that prepare their financial statements on the basis of U.S. GAAP and those entities that prepare their financial statements on the basis of International Financial Reporting Standards. The new guidance did not have a significant impact on the Partnership’s financial statements.
	The following tables summarize the valuation of the Partnership’s investments at September 30, 2013 and December 31, 2012, respectively.
	30-Sep-13		Gross Amounts			Gross Amounts Offset in			Net Amounts
			Recognized			the Statement of			Presented in the
						Financial Condition			Statement of
									Financial Condition
	Assets
	Options purchased		$	3,644,775		$	—		$	3,644,775
	Total Assets		$	3,644,775		$	—		$	3,644,775
	Liabilities
	Options premium received		$	—			(4,077,400	)	$	(4,077,400	)
	Total Liabilities		$	—		$	(4,077,400	)	$	(4,077,400	)
	Total options purchased									3,644,775
	Total options premium received								$	(4,077,400	)
	Net fair value								$	(432,625	)
	31-Dec-12		Gross Amounts			Gross Amounts Offset in			Net Amounts
			Recognized			the Statement of			Presented in the
						Financial Condition			Statement of
									Financial Condition
	Assets
	Futures		$	1,264,688		$	—		$	1,264,688
	Options purchased			926,250			—			926,250
	Total Assets		$	2,190,938		$	—		$	2,190,938
	Liabilities
	Options premium received		$	—			(38,250	)		(38,250	)
	Total Liabilities		$	—		$	(38,250	)	$	(38,250	)
	Net unrealized appreciation on open futures contracts								$	1,264,688
	Total options purchased									926,250
	Total options premium received									(38,250	)
	Net fair value								$	2,152,688
	The following tables indicate the gross fair values of derivative instruments of futures and option contracts as separate assets and liabilities as of September 30, 2013 and December 31, 2012.
			September 30, 2013
	Assets
	Options Purchased
	Indices		$	3,644,775
	Total options purchased		$	3,644,775	*
	Liabilities
	Options Premium Received
	Indices		$	4,077,400
	Total options premium received		$	4,077,400	**
	*	This amount is in “Options purchased, at fair value” on the Statements of Financial Condition.
	**	This amount is in “Options premium received, at fair value” on the Statements of Financial Condition.
			December 31, 2012
	Assets
	Futures Contracts
	Indices		$	1,264,688
	Total unrealized appreciation on open futures contracts		$	1,264,688
	Net unrealized appreciation on open futures contracts		$	1,264,688	*
	Assets
	Options Purchased
	Indices		$	926,250
	Total options purchased		$	926,250	**
	Liabilities
	Options Premium Received
	Indices		$	(38,250	)
	Total options premium received		$	(38,250	)***
*	This amount is in “Net unrealized appreciation on open futures contracts” on the Statements of Financial Condition.
**	This amount is in “Options purchased, at fair value” on the Statements of Financial Condition.
***	This amount is in “Options premium received, at fair value” on the Statements of Financial Condition.
The following table indicates the trading gains and losses, by market sector, on derivative instruments for the three and nine months ended September 30, 2013 and 2012.
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
Sector		2013			2012			2013			2012
Indices		$	7,358,543		$	3,894,755		$	4,305,930		$	20,116,193
Total		$	7,358,543	****	$	3,894,755	****	$	4,305,930	****	$	20,116,193	****
**** This amount is in “Total trading results” on the Statements of Income and Expenses.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2013
Fair Value Measurements	'
	4.    Fair Value Measurements:
	Partnership’s Investments. All commodity interests, including derivative financial instruments and derivative commodity instruments, are held for trading purposes. The commodity interests are recorded on trade date and open contracts are recorded at fair value (as described below) at the measurement date. Investments in commodity interests denominated in foreign currencies are translated into U.S. dollars at the exchange rates prevailing at the measurement date. Gains or losses are realized when contracts are liquidated. Unrealized gains or losses on option contracts are included as a component of equity in trading account on the Statements of Financial Condition. Net realized gains or losses and any change in net unrealized gains or losses from the preceding period are reported in the Statements of Income and Expenses.
	Partnership’s Fair Value Measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to fair values derived from unobservable inputs (Level 3). The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest level input that is significant to the fair value measurement in its entirety.
	GAAP also requires the use of judgment in determining if a formerly active market has become inactive and in determining fair values when the market has become inactive. The General Partner has concluded that based on available information in the marketplace, the Partnership’s Level 1 assets and liabilities are actively traded.
	The Partnership will separately present purchases, sales, issuances and settlements in its reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis), and make disclosures regarding the level of disaggregation and the inputs and valuation techniques used to measure fair value for measurements that fall within either Level 2 or Level 3 of the fair value hierarchy as required under GAAP.
	On October 1, 2012, the Financial Accounting Standards Board (“FASB”) issued ASU 2012-04 “Technical Corrections and Improvements,” which makes minor technical corrections and clarifications to ASC 820, “Fair Value Measurements and Disclosures.” When the FASB issued Statement 157 (codified in ASC 820), it conformed the use of the term “fair value” in certain pre-Codification standards but not others. ASU 2012-04 conforms the term’s use throughout the ASC “to fully reflect the fair value measurement and disclosure requirements” of ASC 820. ASU 2012-04 also amends the requirements that must be met for an investment company to qualify for the exemption from presenting a statement of cash flows. Specifically, it eliminates the requirements that substantially all of an entity’s investments be carried at “market value” and that the investments be highly liquid. Instead, it requires substantially all of the entity’s investments to be carried at “fair value” and classified as Level 1 or Level 2 measurements under ASC 820. The amendments are effective for fiscal periods beginning after December 15, 2012. The adoption of this ASU did not have a material impact on the Partnership’s financial statements.
	The Partnership considers prices for exchange-traded commodity futures and option contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of forwards and certain option contracts for which market quotations are not readily available are priced by broker-dealers that derive fair values for those assets and liabilities from observable inputs (Level 2). As of and for the periods ended September 30, 2013 and December 31, 2012, the Partnership did not hold any derivative instruments for which market quotations were not readily available and which were priced by broker-dealers that derive fair values for those assets and liabilities from observable inputs (Level 2) or that were priced at fair value using unobservable inputs through the application of the General Partner’s assumptions and internal valuation pricing models (Level 3). During the nine months ended September 30, 2013 and twelve months ended December 31 2012, there were no transfers of assets or liabilities between Level 1 and Level 2.
		September 30, 2013			Quoted Prices in			Significant Other		Significant
					Active Markets for			Observable Inputs		Unobservable Inputs
					Identical Assets and			(Level 2)		(Level 3)
					Liabilities (Level 1)
	Assets
	Options purchased	$	3,644,775		$	3,644,775		$	0	$	0
	Total assets	$	3,644,775		$	3,644,775		$	0	$	0
	Liabilities
	Options premium received	$	4,077,400		$	4,077,400		$	0	$	0
	Total liabilities		4,077,400			4,077,400			0		0
	Net fair value	$	(432,625	)	$	(432,625	)	$	0	$	0
		December 31, 2012			Quoted Prices in			Significant Other		Significant
					Active Markets for			Observable Inputs		Unobservable Inputs
					Identical Assets and			(Level 2)		(Level 3)
					Liabilities (Level 1)
	Assets
	Futures	$	1,264,688		$	1,264,688		$	0	$	0
	Options purchased		926,250			926,250			0		0
	Total assets		2,190,938			2,190,938			0		0
	Liabilities
	Options premium received	$	38,250		$	38,250		$	0	$	0
	Total liabilities		38,250			38,250			0		0
	Net fair value	$	2,152,688		$	2,152,688		$	0	$	0

Financial_Instrument_Risks

Financial Instrument Risks	9 Months Ended
	Sep. 30, 2013
Financial Instrument Risks	'
	5.    Financial Instrument Risks:
	In the normal course of business, the Partnership is party to financial instruments with off-balance sheet risk, including derivative financial instruments and derivative commodity instruments. These financial instruments may include futures and options, whose values are based upon an underlying asset, index, or reference rate, and generally represent future commitments to exchange currencies or cash balances, to purchase or sell other financial instruments on specific terms at specified future dates, or, in the case of derivative commodity instruments, to have a reasonable possibility to be settled in cash, through physical delivery or with another financial instrument. These instruments may be traded on an exchange or over-the-counter (“OTC”). Exchange-traded instruments include futures and certain standardized forward and option contracts. OTC contracts are negotiated between contracting parties and include certain forward and option contracts. Each of these instruments is subject to various risks similar to those relating to the underlying financial instruments, including market and credit risk. In general, the risks associated with OTC contracts are greater than those associated with exchange-traded instruments because of the greater risk of default by the counterparty to an OTC contract. None of the Partnership’s current contracts are traded OTC, although contracts may be traded OTC in the future.
	The risk to the Limited Partners that have purchased Redeemable Units is limited to the amount of their share of the Partnership’s net assets and undistributed profits. This limited liability is a result of the organization of the Partnership as a limited partnership under New York law.
	Market risk is the potential for changes in the value of the financial instruments traded by the Partnership due to market changes, including interest and foreign exchange rate movements and fluctuations in commodity or security prices. Market risk is directly impacted by the volatility and liquidity in the markets in which the related underlying assets are traded. The Partnership is exposed to market risk equal to the value of futures contracts purchased and unlimited liability on such contracts sold short.
	Credit risk is the possibility that a loss may occur due to the failure of a counterparty to perform according to the terms of a contract. The Partnership’s risk of loss in the event of a counterparty default is typically limited to the amounts recognized in the Statements of Financial Condition and is not represented by the contract or notional amounts of the instruments. The Partnership’s risk of loss is reduced through the use of legally enforceable master netting agreements with counterparties that permit the Partnership to offset unrealized gains and losses and other assets and liabilities with such counterparties upon the occurrence of certain events. The Partnership had credit risk and concentration risk during the period, as CGM and/or MS&Co. or their affiliates were counterparties or brokers with respect to the Partnership’s assets. Credit risk with respect to exchange-traded instruments is reduced to the extent that, through CGM and/or MS&Co. the Partnership’s counterparty is an exchange or clearing organization. The Partnership continues to be subject to such risk.
	As both a buyer and seller of options, the Partnership pays or receives a premium at the outset and then bears the risk of unfavorable changes in the price of the contract underlying the option. Written options expose the Partnership to potentially unlimited liability; for purchased options, the risk of loss is limited to the premiums paid. Certain written put options permit cash settlement and do not require the option holder to own the reference asset. The Partnership does not consider these contracts to be guarantees.
	The General Partner monitors and attempts to control the Partnership’s risk exposure on a daily basis through financial, credit and risk management monitoring systems, and accordingly, believes that it has effective procedures for evaluating and limiting the credit and market risks to which the Partnership may be subject. These monitoring systems generally allow the General Partner to statistically analyze actual trading results with risk adjusted performance indicators and correlation statistics. In addition, online monitoring systems provide account analysis of futures, forwards and option contracts by sector, margin requirements, gain and loss transactions and collateral positions.
	The majority of these financial instruments mature within one year of the inception date. However, due to the nature of the Partnership’s business, these instruments may not be held to maturity.

Critical_Accounting_Policies

Critical Accounting Policies	9 Months Ended
	Sep. 30, 2013
Critical Accounting Policies	'
	6.    Critical Accounting Policies
	Use of Estimates. The preparation of financial statements and accompanying notes in conformity with GAAP requires the General Partner to make estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses, and related disclosures of contingent assets and liabilities in the financial statements and accompanying notes. As a result, actual results could differ from these estimates.
	Partnership’s Investments. All commodity interests (including derivative financial instruments and derivative commodity instruments) are held for trading purposes. The commodity interests are recorded on trade date and open contracts are recorded at fair value (as described below) at the measurement date. Investments in commodity interests denominated in foreign currencies are translated into U.S. dollars at the exchange rates prevailing at the measurement date. Gains or losses are realized when contracts are liquidated. Unrealized gains or losses on option contracts are included as a component of equity in trading account on the Statements of Financial Condition. Net realized gains or losses and any change in net unrealized gains or losses from the preceding period are reported in the Statements of Income and Expenses.
	Partnership’s Fair Value Measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to fair values derived from unobservable inputs (Level 3). The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest level input that is significant to the fair value measurement in its entirety.
	GAAP also requires the use of judgment in determining if a formerly active market has become inactive and in determining fair values when the market has become inactive. The General Partner has concluded that based on available information in the marketplace, the Partnership’s Level 1 assets and liabilities are actively traded.
	The Partnership will separately present purchases, sales, issuances and settlements in its reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis), and make disclosures regarding the level of disaggregation and the inputs and valuation techniques used to measure fair value for measurements that fall within either Level 2 or Level 3 of the fair value hierarchy as required under GAAP.
	The Partnership considers prices for exchange-traded commodity futures and options contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of certain options contracts for which market quotations are not readily available are priced by broker-dealers that derive fair values for those assets and liabilities from observable inputs (Level 2). As of and for the periods ended September 30, 2013, and December 31, 2012, the Partnership did not hold any derivative instruments that were priced by broker-dealers that derive fair values for those assets from observable inputs (Level 2) or that were priced at fair value using unobservable inputs through the application of the General Partner’s assumptions and internal valuation pricing models (Level 3). During the nine months ended September 30, 2013, and twelve months ended December 31, 2012, there were no transfers of assets or liabilities between Level 1 and Level 2.
	Futures Contracts. The Partnership trades futures contracts. A futures contract is a firm commitment to buy or sell a specified quantity of investments, currency or a standardized amount of a deliverable grade commodity, at a specified price on a specified future date, unless the contract is closed before the delivery date or if the delivery quantity is something where physical delivery cannot occur (such as the S&P 500 Index), whereby such contract is settled in cash. Payments (“variation margin”) may be made or received by the Partnership each business day, depending on the daily fluctuations in the value of the underlying contracts, and are recorded as unrealized gains or losses by the Partnership. When the contract is closed, the Partnership records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Transactions in futures contracts require participants to make both initial margin deposits of cash or other assets and variation margin deposits, through the futures broker, directly with the exchange on which the contracts are traded. Net realized gains (losses) and changes in net unrealized gains (losses) on futures contracts are included in the Statements of Income and Expenses and Changes in Partners’ Capital.
	Options. The Partnership may purchase and write (sell), both exchange listed and OTC, options on commodities or financial instruments. An option is a contract allowing, but not requiring, its holder to buy (call) or sell (put) a specific or standard commodity or financial instrument at a specified price during a specified time period. The option premium is the total price paid or received for the option contract. When the Partnership writes an option, the premium received is recorded as a liability in the Statements of Financial Condition and marked to market daily. When the Partnership purchases an option, the premium paid is recorded as an asset in the Statements of Financial Condition and marked to market daily. Net realized gains (losses) and changes in net unrealized gains (losses) on options contracts are included in the Statements of Income and Expenses.
	Income Taxes. Income taxes have not been provided as each partner is individually liable for the taxes, if any, on its share of the Partnership’s income and expenses.
	GAAP provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements and requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Partnership’s financial statements to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions with respect to tax at the Partnership level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax benefit or expense in the current year. The General Partner has concluded that no provision for income tax is required in the Partnership’s financial statements.
	The Partnership files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The 2010 through 2012 tax years remain subject to examination by U.S. federal and most state tax authorities. The General Partner does not believe that there are any uncertain tax positions that require recognition of a tax liability.
	Subsequent Events. The General Partner evaluates events that occur after the balance sheet date but before financial statements are issued. The General Partner has assessed the subsequent events through the date of issuance and has determined that, other than that referenced in Note 3 to the financial statements, there were no subsequent events requiring adjustment of or disclosure in the financial statements.
	Recent Accounting Pronouncements. In June 2013, the FASB issued ASU 2013-08, “Financial Services — Investments Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements”. ASU 2013-08 changes the approach to the investment company assessment, requires non-controlling ownership interests in other investment companies to be measured at fair value, and requires additional disclosures about the investment company’s status as an investment company. The amendments are effective for interim and annual reporting periods beginning after December 15, 2013. The Partnership is currently evaluating the impact this pronouncement would have on the financial statements.
	Net Income (Loss) per unit. Net income (loss) per unit is calculated in accordance with investment company guidance. See Note 2, “Financial Highlights.”

Critical_Accounting_Policies_P

Critical Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Use of Estimates	'
	Use of Estimates. The preparation of financial statements and accompanying notes in conformity with GAAP requires the General Partner to make estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses, and related disclosures of contingent assets and liabilities in the financial statements and accompanying notes. As a result, actual results could differ from these estimates.
Partnership's Investments	'
	Partnership’s Investments. All commodity interests (including derivative financial instruments and derivative commodity instruments) are held for trading purposes. The commodity interests are recorded on trade date and open contracts are recorded at fair value (as described below) at the measurement date. Investments in commodity interests denominated in foreign currencies are translated into U.S. dollars at the exchange rates prevailing at the measurement date. Gains or losses are realized when contracts are liquidated. Unrealized gains or losses on option contracts are included as a component of equity in trading account on the Statements of Financial Condition. Net realized gains or losses and any change in net unrealized gains or losses from the preceding period are reported in the Statements of Income and Expenses.
Partnership's Fair Value Measurements	'
	Partnership’s Fair Value Measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to fair values derived from unobservable inputs (Level 3). The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest level input that is significant to the fair value measurement in its entirety.
	GAAP also requires the use of judgment in determining if a formerly active market has become inactive and in determining fair values when the market has become inactive. The General Partner has concluded that based on available information in the marketplace, the Partnership’s Level 1 assets and liabilities are actively traded.
	The Partnership will separately present purchases, sales, issuances and settlements in its reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis), and make disclosures regarding the level of disaggregation and the inputs and valuation techniques used to measure fair value for measurements that fall within either Level 2 or Level 3 of the fair value hierarchy as required under GAAP.
	The Partnership considers prices for exchange-traded commodity futures and options contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of certain options contracts for which market quotations are not readily available are priced by broker-dealers that derive fair values for those assets and liabilities from observable inputs (Level 2). As of and for the periods ended September 30, 2013, and December 31, 2012, the Partnership did not hold any derivative instruments that were priced by broker-dealers that derive fair values for those assets from observable inputs (Level 2) or that were priced at fair value using unobservable inputs through the application of the General Partner’s assumptions and internal valuation pricing models (Level 3). During the nine months ended September 30, 2013, and twelve months ended December 31, 2012, there were no transfers of assets or liabilities between Level 1 and Level 2.
Futures Contracts	'
	Futures Contracts. The Partnership trades futures contracts. A futures contract is a firm commitment to buy or sell a specified quantity of investments, currency or a standardized amount of a deliverable grade commodity, at a specified price on a specified future date, unless the contract is closed before the delivery date or if the delivery quantity is something where physical delivery cannot occur (such as the S&P 500 Index), whereby such contract is settled in cash. Payments (“variation margin”) may be made or received by the Partnership each business day, depending on the daily fluctuations in the value of the underlying contracts, and are recorded as unrealized gains or losses by the Partnership. When the contract is closed, the Partnership records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Transactions in futures contracts require participants to make both initial margin deposits of cash or other assets and variation margin deposits, through the futures broker, directly with the exchange on which the contracts are traded. Net realized gains (losses) and changes in net unrealized gains (losses) on futures contracts are included in the Statements of Income and Expenses and Changes in Partners’ Capital.
Options	'
	Options. The Partnership may purchase and write (sell), both exchange listed and OTC, options on commodities or financial instruments. An option is a contract allowing, but not requiring, its holder to buy (call) or sell (put) a specific or standard commodity or financial instrument at a specified price during a specified time period. The option premium is the total price paid or received for the option contract. When the Partnership writes an option, the premium received is recorded as a liability in the Statements of Financial Condition and marked to market daily. When the Partnership purchases an option, the premium paid is recorded as an asset in the Statements of Financial Condition and marked to market daily. Net realized gains (losses) and changes in net unrealized gains (losses) on options contracts are included in the Statements of Income and Expenses.
Income Taxes	'
	Income Taxes. Income taxes have not been provided as each partner is individually liable for the taxes, if any, on its share of the Partnership’s income and expenses.
	GAAP provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements and requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Partnership’s financial statements to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions with respect to tax at the Partnership level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax benefit or expense in the current year. The General Partner has concluded that no provision for income tax is required in the Partnership’s financial statements.
	The Partnership files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The 2010 through 2012 tax years remain subject to examination by U.S. federal and most state tax authorities. The General Partner does not believe that there are any uncertain tax positions that require recognition of a tax liability.
Subsequent Events	'
	Subsequent Events. The General Partner evaluates events that occur after the balance sheet date but before financial statements are issued. The General Partner has assessed the subsequent events through the date of issuance and has determined that, other than that referenced in Note 3 to the financial statements, there were no subsequent events requiring adjustment of or disclosure in the financial statements.
Net Income (Loss) per unit	'
	Net Income (Loss) per unit. Net income (loss) per unit is calculated in accordance with investment company guidance. See Note 2, “Financial Highlights.”

Financial_Highlights_Tables

Financial Highlights (Tables)	9 Months Ended
	Sep. 30, 2013
Schedule of Changes in Net Asset Value Per Unit	'
	Changes in net asset value per unit for each Class for the three and nine months ended September 30, 2013 and 2012 were as follows:
			Three Months						Three Months						Nine Months						Nine Months
			Ended						Ended						Ended						Ended
			September 30, 2013						September 30, 2012						30-Sep-13						September 30, 2012
			Class A			Class D			Class A			Class D			Class A			Class D			Class A			Class D
	Net realized and unrealized gains (losses) *		$	37.11		$	44.33		$	15.89		$	22.37		$	(11.51	)	$	9.04		$	111.16		$	128.57
	Interest income			0.05			0.05			0.14			0.14			0.26			0.27			0.36			0.36
	Expenses **			(7.73	)		(7.85	)		(7.88	)		(7.80	)		(24.25	)		(24.44	)		(22.83	)		(22.50	)
	Increase (decrease) for the period			29.43			36.53			8.15			14.71			(35.50	)		(15.13	)		88.69			106.43
	Net asset value per unit, beginning of period			1,162.67			1,174.12			1,183.15			1,168.14			1,227.60			1,225.78			1,102.61			1,076.42
	Net asset value per unit, end of period		$	1,192.10		$	1,210.65		$	1,191.30		$	1,182.85		$	1,192.10		$	1,210.65		$	1,191.30		$	1,182.85
	*	Includes brokerage fees and clearing fees.
	**	Excludes brokerage fees and clearing fees.
Summary of Percentage Changes in Net Asset Value Per Unit	'
			Three Months						Three  Months						Nine Months						Nine Months
			Ended						Ended						Ended						Ended
			September 30, 2013						September 30, 2012						September 30, 2013						September 30, 2012
			Class A			Class D			Class A			Class D			Class A			Class D			Class A			Class D
	Ratios to average net assets:***
	Net investment income (loss)			(7.2	)%		(5.1	)%		(6.8	)%		(4.5	)%		(7.4	)%		(5.1	)%		(7.1	)%		(4.9	)%
	Allocation to Special Limited Partner			—	%		—	%		—	%		—	%		—	%		—	%		—	%		0	%
	Net investment income (loss) before allocation to Special Limited Partner ****			(7.2	)%		(5.1	)%		(6.8	)%		(4.5	)%		(7.4	)%		(5.1	)%		(7.1	)%		(4.9	)%
	Operating expense			7.2	%		5.1	%		6.9	%		4.5	%		7.5	%		5.1	%		7.1	%		5	%
	Allocation to Special Limited Partner			—	%		—	%		—	%		—	%		—	%		—	%		—	%		—	%
	Total expenses			7.2	%		5.1	%		6.9	%		4.5	%		7.5	%		5.1	%		7.1	%		5	%
	Total return:
	Total return before allocation to Special Limited Partner			2.5	%		3.1	%		0.7	%		1.3	%		(2.9	)%		(1.2	)%		8	%		9.9	%
	Allocation to Special Limited Partner			—	%		—	%		—	%		—	%		—	%		—	%		—	%		—	%
	Total return after allocation to Special Limited Partner			2.5	%		3.1	%		0.7	%		1.3	%		(2.9	)%		(1.2	)%		8	%		9.9	%
	***	Annualized (except allocation to Special Limited Partner, if applicable).
	****	Interest income less total expenses (exclusive of allocation to Special Limited Partner, if applicable).

Trading_Activities_Tables

Trading Activities (Tables)	9 Months Ended
	Sep. 30, 2013
Summary of Valuation of Partnership's Investments	'
	The following tables summarize the valuation of the Partnership’s investments at September 30, 2013 and December 31, 2012, respectively.
	30-Sep-13		Gross Amounts			Gross Amounts Offset in			Net Amounts
			Recognized			the Statement of			Presented in the
						Financial Condition			Statement of
									Financial Condition
	Assets
	Options purchased		$	3,644,775		$	—		$	3,644,775
	Total Assets		$	3,644,775		$	—		$	3,644,775
	Liabilities
	Options premium received		$	—			(4,077,400	)	$	(4,077,400	)
	Total Liabilities		$	—		$	(4,077,400	)	$	(4,077,400	)
	Total options purchased									3,644,775
	Total options premium received								$	(4,077,400	)
	Net fair value								$	(432,625	)
	31-Dec-12		Gross Amounts			Gross Amounts Offset in			Net Amounts
			Recognized			the Statement of			Presented in the
						Financial Condition			Statement of
									Financial Condition
	Assets
	Futures		$	1,264,688		$	—		$	1,264,688
	Options purchased			926,250			—			926,250
	Total Assets		$	2,190,938		$	—		$	2,190,938
	Liabilities
	Options premium received		$	—			(38,250	)		(38,250	)
	Total Liabilities		$	—		$	(38,250	)	$	(38,250	)
	Net unrealized appreciation on open futures contracts								$	1,264,688
	Total options purchased									926,250
	Total options premium received									(38,250	)
	Net fair value								$	2,152,688
Gross Fair Values of Derivative Instruments of Futures and Option Contracts as Separate Assets and Liabilities	'
	The following tables indicate the gross fair values of derivative instruments of futures and option contracts as separate assets and liabilities as of September 30, 2013 and December 31, 2012.
			September 30, 2013
	Assets
	Options Purchased
	Indices		$	3,644,775
	Total options purchased		$	3,644,775	*
	Liabilities
	Options Premium Received
	Indices		$	4,077,400
	Total options premium received		$	4,077,400	**
	*	This amount is in “Options purchased, at fair value” on the Statements of Financial Condition.
	**	This amount is in “Options premium received, at fair value” on the Statements of Financial Condition.
			December 31, 2012
	Assets
	Futures Contracts
	Indices		$	1,264,688
	Total unrealized appreciation on open futures contracts		$	1,264,688
	Net unrealized appreciation on open futures contracts		$	1,264,688	*
	Assets
	Options Purchased
	Indices		$	926,250
	Total options purchased		$	926,250	**
	Liabilities
	Options Premium Received
	Indices		$	(38,250	)
	Total options premium received		$	(38,250	)***
	*	This amount is in “Net unrealized appreciation on open futures contracts” on the Statements of Financial Condition.
	**	This amount is in “Options purchased, at fair value” on the Statements of Financial Condition.
	***	This amount is in “Options premium received, at fair value” on the Statements of Financial Condition.
Trading Gains and Losses, by Market Sector, on Derivative Instruments	'
	The following table indicates the trading gains and losses, by market sector, on derivative instruments for the three and nine months ended September 30, 2013 and 2012.
			Three Months Ended						Nine Months Ended
			September 30,						September 30,
	Sector		2013			2012			2013			2012
	Indices		$	7,358,543		$	3,894,755		$	4,305,930		$	20,116,193
	Total		$	7,358,543	****	$	3,894,755	****	$	4,305,930	****	$	20,116,193	****
	**** This amount is in “Total trading results” on the Statements of Income and Expenses.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value for Those Assets and Liabilities from Observable Inputs and Quoted Prices in Active Markets for Identical Assets	'
	During the nine months ended September 30, 2013 and twelve months ended December 31 2012, there were no transfers of assets or liabilities between Level 1 and Level 2.
		September 30, 2013			Quoted Prices in			Significant Other		Significant
					Active Markets for			Observable Inputs		Unobservable Inputs
					Identical Assets and			(Level 2)		(Level 3)
					Liabilities (Level 1)
	Assets
	Options purchased	$	3,644,775		$	3,644,775		$	0	$	0
	Total assets	$	3,644,775		$	3,644,775		$	0	$	0
	Liabilities
	Options premium received	$	4,077,400		$	4,077,400		$	0	$	0
	Total liabilities		4,077,400			4,077,400			0		0
	Net fair value	$	(432,625	)	$	(432,625	)	$	0	$	0
		December 31, 2012			Quoted Prices in			Significant Other		Significant
					Active Markets for			Observable Inputs		Unobservable Inputs
					Identical Assets and			(Level 2)		(Level 3)
					Liabilities (Level 1)
	Assets
	Futures	$	1,264,688		$	1,264,688		$	0	$	0
	Options purchased		926,250			926,250			0		0
	Total assets		2,190,938			2,190,938			0		0
	Liabilities
	Options premium received	$	38,250		$	38,250		$	0	$	0
	Total liabilities		38,250			38,250			0		0
	Net fair value	$	2,152,688		$	2,152,688		$	0	$	0

Financial_Highlights_Schedule_

Financial Highlights - Schedule of Changes in Net Asset Value Per Unit (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Class A [Member]	'	'	'	'
Class of Stock [Line Items]	'	'	'	'
Net realized and unrealized gains (losses)	37.11	15.89	-11.51	111.16
Interest income	0.05	0.14	0.26	0.36
Expenses	-7.73	-7.88	-24.25	-22.83
Increase (decrease) for the period	29.43	8.15	-35.5	88.69
Net asset value per unit, beginning of period	1,162.67	1,183.15	1,227.60	1,102.61
Net asset value per unit, end of period	1,192.10	1,191.30	1,192.10	1,191.30
Class D [Member]	'	'	'	'
Class of Stock [Line Items]	'	'	'	'
Net realized and unrealized gains (losses)	44.33	22.37	9.04	128.57
Interest income	0.05	0.14	0.27	0.36
Expenses	-7.85	-7.8	-24.44	-22.5
Increase (decrease) for the period	36.53	14.71	-15.13	106.43
Net asset value per unit, beginning of period	1,174.12	1,168.14	1,225.78	1,076.42
Net asset value per unit, end of period	1,210.65	1,182.85	1,210.65	1,182.85

Financial_Highlights_Summary_o

Financial Highlights - Summary of Percentage Changes in Net Asset Value Per Unit (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Class A [Member]	'	'	'	'
Ratios to average net assets:	'	'	'	'
Ratios to average net assets, Net investment income (loss)	-7.20%	-6.80%	-7.40%	-7.10%
Ratios to average net assets, Net investment income (loss) before allocation to Special Limited Partner	-7.20%	-6.80%	-7.40%	-7.10%
Ratios to average net assets, Operating expense	7.20%	6.90%	7.50%	7.10%
Ratios to average net assets, Total expenses	7.20%	6.90%	7.50%	7.10%
Total return:	'	'	'	'
Total return before allocation to Special Limited Partner	2.50%	0.70%	-2.90%	8.00%
Total return after allocation to Special Limited Partner	2.50%	0.70%	-2.90%	8.00%
Class D [Member]	'	'	'	'
Ratios to average net assets:	'	'	'	'
Ratios to average net assets, Net investment income (loss)	-5.10%	-4.50%	-5.10%	-4.90%
Ratios to average net assets, Allocation to Special Limited Partner	'	'	'	0.00%
Ratios to average net assets, Net investment income (loss) before allocation to Special Limited Partner	-5.10%	-4.50%	-5.10%	-4.90%
Ratios to average net assets, Operating expense	5.10%	4.50%	5.10%	5.00%
Ratios to average net assets, Allocation to Special Limited Partner	'	'	'	0.00%
Ratios to average net assets, Total expenses	5.10%	4.50%	5.10%	5.00%
Total return:	'	'	'	'
Total return before allocation to Special Limited Partner	3.10%	1.30%	-1.20%	9.90%
Allocation to Special Limited Partner	'	'	'	0.00%
Total return after allocation to Special Limited Partner	3.10%	1.30%	-1.20%	9.90%

Trading_Activities_Additional_

Trading Activities - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
	Contract	Contract	Contract	Contract
Monthly average number of option contract traded	9,068	11,565	11,550	15,411

Trading_Activities_Summary_of_

Trading Activities - Summary of Valuation of Partnership's Investments (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Derivative [Line Items]	'	'
Gross Amounts Recognized, Assets	$3,644,775	$2,190,938
Gross Amounts Offset in the Statement of Financial Condition, Assets	'	'
Net Amounts Presented in the Statement of Financial Condition, Assets	3,644,775	2,190,938
Gross Amounts Recognized, Liabilities	'	'
Gross Amounts Offset in the Statement of Financial Condition, Liabilities	-4,077,400	-38,250
Net Amounts Presented in the Statement of Financial Condition, Liabilities	-4,077,400	-38,250
Total options purchased	3,644,775	2,190,938
Net unrealized appreciation on open futures contracts	0	1,264,688
Total options premium received	-4,077,400	-38,250
Net fair value	-432,625	2,152,688
Options Purchased [Member]	'	'
Derivative [Line Items]	'	'
Gross Amounts Recognized, Assets	3,644,775	926,250
Gross Amounts Offset in the Statement of Financial Condition, Assets	'	'
Net Amounts Presented in the Statement of Financial Condition, Assets	3,644,775	926,250
Total options purchased	3,644,775	926,250
Options Premium Received [Member]	'	'
Derivative [Line Items]	'	'
Gross Amounts Recognized, Liabilities	'	'
Gross Amounts Offset in the Statement of Financial Condition, Liabilities	-4,077,400	-38,250
Net Amounts Presented in the Statement of Financial Condition, Liabilities	-4,077,400	-38,250
Total options premium received	-4,077,400	-38,250
Futures Contracts [Member]	'	'
Derivative [Line Items]	'	'
Gross Amounts Recognized, Assets	'	1,264,688
Gross Amounts Offset in the Statement of Financial Condition, Assets	'	'
Net Amounts Presented in the Statement of Financial Condition, Assets	'	1,264,688
Total options purchased	'	$1,264,688

Trading_Activities_Gross_Fair_

Trading Activities - Gross Fair Values of Derivative Instruments of Futures and Option Contracts as Separate Assets and Liabilities (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Assets	'	'
Total options purchased	$3,644,775	$2,190,938
Total unrealized appreciation on open futures contracts	'	1,264,688
Net unrealized appreciation on open futures contracts	0	1,264,688
Liabilities	'	'
Total options premium received	4,077,400	38,250
Options Purchased Indices [Member]	'	'
Assets	'	'
Total options purchased	3,644,775	926,250
Options Purchased [Member]	'	'
Assets	'	'
Total options purchased	3,644,775	926,250
Options Premium Received Indices [Member]	'	'
Liabilities	'	'
Total options premium received	4,077,400	38,250
Futures Contracts Purchased Indices [Member]	'	'
Assets	'	'
Total unrealized appreciation on open futures contracts	'	$1,264,688

Trading_Activities_Trading_Gai

Trading Activities - Trading Gains and Losses, by Market Sector, on Derivative Instruments (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Summary of Investment Holdings [Line Items]	'	'	'	'
Total	$7,358,543	$3,894,755	$4,305,930	$20,116,193
Indices [Member]	'	'	'	'
Summary of Investment Holdings [Line Items]	'	'	'	'
Total	$7,358,543	$3,894,755	$4,305,930	$20,116,193

Fair_Value_Measurements_Fair_V

Fair Value Measurements - Fair Value for Those Assets and Liabilities from Observable Inputs Unobservable Inputs and Quoted Prices in Active Markets for Identical Assets (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Assets	'	'
Total assets	$3,644,775	$2,190,938
Liabilities	'	'
Total liabilities	4,077,400	38,250
Net fair value	-432,625	2,152,688
Options Purchased Indices [Member]	'	'
Assets	'	'
Total assets	3,644,775	926,250
Futures Contracts [Member]	'	'
Assets	'	'
Total assets	'	1,264,688
Options Premium Received Indices [Member]	'	'
Liabilities	'	'
Total liabilities	4,077,400	38,250
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member]	'	'
Assets	'	'
Total assets	3,644,775	2,190,938
Liabilities	'	'
Total liabilities	4,077,400	38,250
Net fair value	-432,625	2,152,688
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member] | Options Purchased Indices [Member]	'	'
Assets	'	'
Total assets	3,644,775	926,250
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member] | Futures Contracts [Member]	'	'
Assets	'	'
Total assets	'	1,264,688
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member] | Options Premium Received Indices [Member]	'	'
Liabilities	'	'
Total liabilities	4,077,400	38,250
Significant Other Observable Inputs (Level 2) [Member]	'	'
Assets	'	'
Total assets	0	0
Liabilities	'	'
Total liabilities	0	0
Net fair value	0	0
Significant Other Observable Inputs (Level 2) [Member] | Options Purchased Indices [Member]	'	'
Assets	'	'
Total assets	0	0
Significant Other Observable Inputs (Level 2) [Member] | Futures Contracts [Member]	'	'
Assets	'	'
Total assets	'	0
Significant Other Observable Inputs (Level 2) [Member] | Options Premium Received Indices [Member]	'	'
Liabilities	'	'
Total liabilities	0	0
Significant Unobservable Inputs (Level 3) [Member]	'	'
Assets	'	'
Total assets	0	0
Liabilities	'	'
Total liabilities	0	0
Net fair value	0	0
Significant Unobservable Inputs (Level 3) [Member] | Options Purchased Indices [Member]	'	'
Assets	'	'
Total assets	0	0
Significant Unobservable Inputs (Level 3) [Member] | Futures Contracts [Member]	'	'
Assets	'	'
Total assets	'	0
Significant Unobservable Inputs (Level 3) [Member] | Options Premium Received Indices [Member]	'	'
Liabilities	'	'
Total liabilities	$0	$0

Financial_Instrument_Risks_Add

Financial Instrument Risks - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2013
Maximum maturity period of financial instruments	'1 year

Critical_Accounting_Policies_A

Critical Accounting Policies - Additional Information (Detail) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Derivative instruments which derive fair values for those assets from observable inputs	0	0
Transfers of assets or liabilities between Level 1 and Level 2	$0	$0