AMAT short puts

With the stock looking weak and a decisive break below the 200 day moving average, this wouldn’t be the ideal day (at least technically) to sell puts and take a bullish position. But I am looking to potentially acquire this stock below 50 and this put sale will allow me to do that if it continues down more than another 10% at expiration. As of now it’s down almost 9% today, almost 15% over the last 4 trading days and around 20% from its intraday high on 8/14.

Sold $AMAT 10/16 50 puts @ 1.60. Delta 25. IV rank 34.