New position QCOM July 32.50 puts @3.20 or March 32.50 @ $0.65. the short below 34.50 (missed 34.71 while bidding for the puts). I like July because the return is worth the extra premium you pay (like PHM) LOVELY 2:00 and 2:30 breakdown on this SHORT THE RALLY DAY. The short is intraday (possibly we hold some) but the puts look like swing play.