Support levels are the headline: a 22% drop on a $2 stock is a crash, not a dip. The chart is a cliff dive with no visible floor. IV at 100% is a trap; realized vol is 149%, making this premium structurally cheap.

Selling puts here is picking up pennies in front of a steamroller. The spread math is a disaster—any credit you'd collect on a $1-wide spread would be a rounding error against the massive tail risk of another 50% leg down. This isn't a setup; it's a lottery ticket on a stock that's proven it can vaporize capital.

Better opportunities exist in less-broken charts.