we're still a ways from 1987... but i have a feeling tuesday will be the worst day many people here have ever faced. and i suspect it'll be the last day for some, too, as their accounts will be vaporized. i'm thinking about the people who wrote put spreads two standard deviations otm.
there are too many noobs calling the market oversold the last week and saying how it's a great buying opportunity. they've never seen a true bear market until now and think the market can never drop >5% in a day.