Joachim,

Thanks for sharing your insight, which is quite interesting. I had a couple of questions:

1. In the article you say: "I set the strike one tenth of the monthly volatility of the S&P 500." Do I understand correctly that this rule maximizes returns, meaning changing the strike either way would lower returns?

2. Do you think investing the put premiums into higher yielding debt (albeit more volatile) instruments could make sense, especially if we extend the trading period from one month to a quarter?

3. Lastly, what was the source of data that you used to backtest your strategy?