A PUT option strategy reflects an underlying assumption that binary option prices are falling, such as in a bear market.
Remember that the terms “bull market” and “bear market” are asset-specific. That is, one asset could be experiencing rising prices (bull market) while at the same time the prices are falling for another binary option market (bear market). So a PUT option strategy has to be considered for each individual binary option asset, and it is not necessarily recommended to follow a put option strategy for every single market.
Investors may use PUT option strategies when prices are falling, but some skilled investors may choose to follow a PUT option strategy when prices are rising, by predicting short term losses, even as the overall trend rises.
PUT options strategies are an important tool for binary options investors.