Ok let me explain what I was saying. What I meant falling market was that when it broke the support and went down further (like today), now lets see you buy puts and make money. You should consider yourself very lucky if you can break even (because of the spread) or squeak out a minute profit. What I was intending to say has to do with breaking the support and taking a position in that direction in options. Not so easy. BTW, if you want to do with index options you will need all the help of the world because they are the biggest bandits of them all. Very similar to the Mafias who are after me now.
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