The problem with puts is they can expire before this calms down. If you can get a short in and not get a margin call this is the opportunity of a lifetime. Only the biggest players dare risk it though.
I knew a guy that wound up going short on a stock that was going to the moon. He was down almost a years salary at one point. I'd rather go with a longer-term put option to keep the risk under control. It just lets me sleep at night. Everyone is different.
I have no idea where we are in this bubble. The timeline will only be known a few years after it pops. There may be false pops on the way up.