Was at 700 in the good days. Ibmpthegreat lost millions in 2000 on Internet stocks or gave back millions and learned about put protection. Suggested everyone use it for cme and got a negative response. Sad. A course called radioactive trading explains it all. Google it.
When cme was at 400 I was the only person suggesting buying the 400 puts out 3 months using some of the profits made and selling 430 calls to help pay for the rotection. You would be safe and account protected 90 percent