VIX Index is down to 12.75 .... it hasn't been at these levels since 2007. Complacency !
SPY PUTs are accordingly cheap .... have you considered buying any ??? The May "at the money" PUTs cost a mere 2% of the index. A 10% drop in the S&P500 would yield a 400% gain at expiration. Maybe it will be another "Sell in May and go Away" year ?