Here is an option trade I just put on 5 mins ago, we'll see how it does. I bought 10 AAPL $95 puts for July, paid $6.28 on 5 and $6.30 for 5.
I have defined my max risk to premuim paid ($6,290) and have equivalent control of 1,000 shares. Only way I lose all the money is to hold this...