This selloff deserves a closer look, but the math is fighting us. IV at 78% looks juicy, but it's actually cheap relative to the 68% realized vol — selling premium here is structurally negative-EV. The chart shows a hammer reversal, but that's a single candle in a stock that's still up 18% in two months; we need to see if $25 holds as a floor.

The risk-first view says the sector's still frothy, and a 7% drop isn't enough cushion for a name this volatile. I'd want to see either a deeper pullback toward $24 for a better entry or a confirmed bounce off this level with IV expanding. For now, the odds don't pay for the risk.

Verdict: Wait for a better pitch.