Bears

Selling puts works nicely in a bull market, but if you have a true bear market, like the cruel year 2002, which doesn’t get much mention (they always comment rather on the precipitous drop in 2000 instead), selling calls would be best and selling puts would be disastrous. 2002 is a very instructive year for those who remember it, an experience that no one under the age of 40 has gone through.

Tulips and Bitcoins

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