These 2 waves will last just long enough to degrade your put value to less than 50% by price swing and IV crush due to low volatility. They will last long enough to shake you out of your position at the worst possible time, right before the next move down.
The market is tricky, it is supposed to take your money, that is it's job. It is the master of deception.
Don't be deceived. Don't be stubborn....see it's that easy :-)
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Insightful and Useful Comment!