BUY SPY $435 2/4 Puts

Buying SPY $435 puts expiring 2/4 for $0.20

0.2% position (cost), 400% position if executed

I'm a little late to shorting SPY - but am buying crash protection for tomorrow if this selloff accelerates. If SPY is down another ~3% tomorrow, I'll make some big money. If it manages not to crash, then I'm not out too much. 

The great thing about trading out-of-the-money options is you can get some massive leverage for extremely cheap. This position really cranks up my short exposure if a crash happens. And avoiding big losses is an increasingly important job for a money manager.