Once bitten twice shy

PCLN glory days might be over. I could not get on the PCLN gravy train. Tried shorting once and hit my stop limit. Never trusted the company fundamentals. Chart is at a critical point where it could run a bit more or breakdown and fall fast. I'm staying away for now until I see where the direction is headed at the end of the week. Even though I missed the previous bull express, I'd rather be on the bear side now. Just took a look at options prices, not bad. If W pattern shapes out I would play the breakdown, and SELL Jan. 700 Calls. If prices stagnate in this area, I would SELL 660 Jan. Calls or go with more risk and BUY 500 Jan. out-of-the-money PUTS.

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