But it looks like we will get a great chance to go long deep ITM SPX put options once again. Last summer bought 1010-1050 puts and rode them from 51 to (approx) $190-200 area and scaled out (yes and left some on the table). And here comes the SUN, again! Would urge options traders to begin stalking purchase of SPX deeps after SPX begins to show signs of a top/reversal. But as for me I am often early.... so will begin buying IF and when SPX nears 925-940. If and when filled will likely sell OTMs front month puts on any minor retracement, to lower cost basis. Anyone else stalking short trades. If so what and when and why?