Perfect! I was going to say, without any consideration of risk, buy far OTM options. For maximizing your Sharpe or Sortino ratios, which is more likely what OP

Perfect! I was going to say, without any consideration of risk, buy far OTM options. For maximizing your Sharpe or Sortino ratios, which is more likely what OP was curious about, well that is quite literally a trillion dollar question. That said, modern portfolio theory and portfolio optimization is pretty easy. Whatever you do OP, please don't put it all under your mattress. https://youtu.be/sHSaUqoKjkA https://youtu.be/sHSaUqoKjkA My chips are mostly off the table right now, in bond ETFs, but we'll see if the market tanks or not. I'm quite surprised that Q2 earnings this past week was not a bloodbath.