Retail's natural bias is to hold; the long_unwinding regime is the structural exit signal that institutions act on. When the prior regime was long_buildup and today's PCR-volume divergence pushes above +0.20 (= fresh put demand outpacing existing put OI), it's the time to size down or hedge.
Long Put for protection, or close the long position
Pre-computed strikes appear in each X-Ray drawer below; tap a row to preview the leg layout.
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