Terrible play. The only reason prices held up is because of the illustrious stock circuit breaker precluding shorting today. To buy the dip, put on a "covered

Terrible play. The only reason prices held up is because of the illustrious stock circuit breaker precluding shorting today. To buy the dip, put on a "covered call" position by buying the stock and serially selling weekly calls at a higher price (for example, sell the august 3 calls at 25 strike for 30 cents). Continue to sell weekly calls and collect vol until it reaches your target. The advantage here is that most brokerage firms will let you do this type of trade without requiring extra margin abilities