Equities: "S & P Put Buyer Yesterday"

Yesterday's drop did not mark the top, that's not how bull runs end. More later.
From Across the Curve:

Via a friend of the blog:

LARGE BUYER ($5.6 BLN NOTIONAL) OF PUTS ON THE S&P YESTERDAY AFTERNOON RESPONSIBLE FOR THE DAY’S ROUND TRIP. ONLY $260MM PREMIUM, SO OUT OF THE MONEY BUT STILL A SEEKER OF PROTECTION…