I bought a single $1500 put on Wed last week (1330) -- now worth about $6500... wish I could have afforded more obviously.
Expires next Friday... thinking selling at about $12,000! I think you are right. If it follows the path of AAPL (high-flier correction), it could go to 1000 to 1100 range in a hurry.
Once AAPL hit it's 700 peak, the valley was 400, settle about 500. History tends to repeat itself. I have been out of the options market for a year before this one! Once it started coming off the 1375+ high, it was destined to start the correction.