I think one more wave is possible, perhaps even likely -- clearly the market is not betting on tomorrow's conference call providing much in the way of a positive update.
I don't know if it gets back to 15 -- 50% haircuts are a nice milestone figure but I see the support closer to the $16.30-$16.70 range, if it even gets that low.
I'm going to sell some $15 puts with as far of a strike date as possible.
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