$COO Falling Knife-ish

With the stock at 225.32, a better representation of the Iceman #FallingKnife strategy might be selling the 170 puts, midprice around 1.30 right now. The 170 would take you back to Dec 2016 as the last time the stock was at that level. In this case I’m going higher for more premium–190 puts, a strike last seen in Feb of this year. Delta is 14.
Sold $COO May 18 190 put @ 3.00.