It’s like an easy layup in basketball, a man wide open down the field in American Football, or an empty net in soccer/hockey. Sure that’s easy for professionals, but most of us would miss.

What percentage of retail traders have ever bought a put? How many are approved, understand the Greeks, and are willing to go? I’d guess it’s insanely low.

I think most are going to baghold to the bottom and continue to DCA. I’m sure some will move some into cash. But this big measurable rush of retail buying puts, I just don’t see it.

And even those of us who are willing to buy these puts, a lot of us are getting scared bc it’s so obvious… this do the opposite of sentiment narrative, which I generally agree with. But if only a tiny percent of retail is actually going to make an active bet here, the act against sentiment argument loses some steam.