My bi-directional trade on CXW. Michael Burry likes it too!

NYSE:CXW   CoreCivic, Inc
Similar to my approach with SLV that is linked, I opened a long position in CXW , hedged by 3/19 7 puts.
CXW is low volatility , which means options are cheap. So:

1) If it breaks free through resistance, I make money on the long stock, lose my hedge, but I dont care, bc the hedge is cheap.
2) If it bounces down sharply because of the market sell-off, my hedge will work and I will be either net 0 or modest profit.
3) If nothing happens, I lose my hedge money, but its cheap anyways.

And Dr Michael Burry has it in his portfolio in Scion, so why not?