Buying Options at Institutional Levels

A buffer is the first amount of lost. After 20 %, you can't lose any a your downside. So it's like the tail rit. You can't lose past tis amaao. It improves your upside. This is a little more specialized than most gys can do. And we're buying all the options at institutional levels and it's package for them. They don't have to mess around trying to figure out, where's my 20 % or where's this at? I guess i'm bearished now. Maybe it's better off old this outsor so fast. maybe it's better to outsors.