onedog - Your summary statement is correct per my understanding. If the market value of your portfolio ever drops below the $50,000 during the first 6 months, then you would lose the miles. But my observation would be to leave the money in a money market account instead of actually investing it (where the money sits between trades). Then you would be guaranteed that your balance would always stay above the $50,000 because you are earning interest with no downside potential. You could argue that you could take the $50,000 and make better money by investing in aggressively rather than the low money market account interest, so that you could pay for two to three tickets with the investment profits. Depends on if you believe in this market's ability to not fluctuate. I don't. But my scenario of leaving it in the money market account with E*TRADE will work, I think. I'll let you know, because I am going to be talking to a rep tomorrow. Hope this helps.