This is me just
GUESSING
Nobody is buying out-of-the-money puts
Nobody
At a certain point it gets extreme and “has to” start reversing
That extreme point has, this year, hit at the lime-horizontal lines
(It looks like it is trying to “double dip” here, but
the SKEW is EOD. A higher low would reinforce the bull’s case)
Note lime arrows, and ignore other vertical lines
Daily