Quote from Cache Landing:
I'm with coach. If we stay over 1295 on the pullback, I don't want to get run over by the bull stampede. It seems to me that everyone has really high hopes about keeping this growth going and yesterday's CPI showed the first signs of slowing inflation. That's why I'm starting to get a little nervous about my bear calls.
Besides that, puts have been bid up in price, so for the same distance OTM you can get a much better credit on a bull put right now. Oops... another validation for using the Ansbacher Index inadvertently sneaked into my post.