Zeev's Turnips Patch-No Politics (ZEEV)

[phineas gage]

Perhaps it is not buyers, but rather sellers. Bottom callers who think that is rich premium in the context of a 20ish VIX. In that case the houses would be the put owners.

When I did that and I had a customer dump a load of puts on me I would either

a) buy the stock, and convert the position to a call.
b) create a calendar spread
c) use it to hedge my existing inventory
or
d) if I didn't have much inventory I would get some, so my book wouldn't be imbalanced.