I think LEAP puts are a good deal with these low levels of volatility. We still need a firmer resolution of whether the highs are in. This correction is going as I anticipated and we should now start to head back down. I think a short here with a stop at today's high will be profitable, though.
With option volatility so low, options probably are best as hedging vehicles and not as trading vehicles, unless you want to time the return of volatility to a specific short-term window.
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