I think the S&P option premiums are up because of the Fed Jackson Hole meeting this week. I would only trade options if I intend to be out same day or next day. If you hold any options over the weekend, they will lose significant value on Monday. On the other hand they may gain a little more value on IV between today and tomorrow.
For instance, I bought a SPY put today in the late morning in the middle of the downdraft when it looked like a consolidation. I got out around 1:30 on the double bottom with RSI divergence. On a relatively small 1% down move on SPY I booked a 25% profit. Given that this was a same day trade, the fact that option premiums might be expensive had no meaning for me.