Going to duplicate it here in case you prefer telegram.
Think of buying puts as insurance on your spot holdings. For limited price you get protection, nice alternative for going short and worrying about getting stopped out.
Options won't be this cheap forever, volatility kicks soon IMO
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The best thing about options is that you still keep your spot holdings. So, if you're wrong and market goes up instead, $ value of your bag appreciated, you gucci. You only lost a fraction you paid for the premium (price of option). However if market tanked - you saved your ass
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