Getty Images; Jenny Chang-Rodriguez/BIInvestors are seeking S&P 500 downside protection as rate cuts shift focus to growth concerns.Hedging strategies include options contracts, indicating the smart money is bracing for volatility.S&P 500 long-dated put options are a preferred approach int he current market environment.Some investors are beginning to accept that what goes up must come down.Demand for downside protection on the S&P 500 is starting to build.