The risk is that you will buy thousands of puts, week after week, waiting for a crash to happen, and when one finally does you will have spent so much on puts while waiting that overall you didn't win anything.

I started doing this 3 weeks ago. Lucky me. The drop has been spectacular, as were the drops in 2008 and 2000. I only buy in after seeing spectacular drops. Again I’m not saying it’s the right strategy, I’m saying look into puts, study, observe, and maybe this works for you. Maybe not.

The total risk is 2k. So, the puts could end up worthless at the expiry date.