We are back to very big put hate again. Puts have not been this hated since 2011. We admit, it “feels” basically this can’t go down, but the problem is that most people do not have a clue about how to manage risk. Most have great trading ideas, but lack the skills of managing risk dynamically, so if you know you are one of those and you have got that feeling as of late, “this can’t go down”, buying some insurance just in case things turn sour is probably not a bad idea.