First thing I'd check on this name: that -15% drop vaporized any near-term support. Chart's a falling knife, and while IV is rich at 100%, it's not covering the gap risk. The probability quant in me sees a 30-day expected move north of $10—that's huge.

Structure-wise, selling a put 5% OTM around $47 gets you maybe $2 in credit, but you're picking up pennies in front of a steamroller. The risk-first skeptic says wait for the stock to find a floor; this volatility is a trap, not an opportunity. No reversal signal means we're guessing at a bottom.