Ahh, that cranky TMFBent, telling us to buy our puts, right?
Actually, not. As I have a lot of cash waiting to be deployed, and times are turbulent, I've been selling a few puts in order to make more cash and/or get shares of companies I like at prices that look cheap to me.
These days, it's pretty easy to get a nice premium on two-month puts. All you need to do is wait for one of those crazy down days, and write what you'd like to get.
Just an optimistic thought (though buying a wide-ranging pile of builder puts as a gamble sure is tempting.)