I used to trade options a lot. I learned they can be quite tricky and you have to be astute and quick to trade. I also feel now that they are definitely a better insurance policy than trading vehicle for me. That said this recent article:
"Options Signal Stock Peril as Analysts See Profits"
Was an interesting read. Option purchasing are putting a decline of the market at an 80% liklihood over the course of the next year. Not so you say we have all of this economic data that is good pointing to positive returns. A job market that seems to be stabilizing and turning a corner. My answer in reply is simply "debt". You can't out bs debt, there is not enough lipstick to put on that pig. Sooner or later it catches you and you have to pay up. We will wait and see.