Looking for the market to re-enter the November channel (black parallel lines). Might be wishful thinking but a lot of my other indicators showing there's room for more selling. Fear/Greed indicator shows quite a bit of fear, but it's understandable given the climate we're in.
In regards to the number of available contracts, I think that's the perfect time for the market to plummet. I'm not saying it will happen soon, but the market tends to do things when no one expects. IMHO, I think holding long-term puts wouldn't be a bad idea. I follow others people on another board, and several are holding market crashing shorts.