There is no easy way to short this stock, but it will probably be a good short for the next few weeks. I’m not expecting an outright collapse, just some reversion.
Yes, it’s parabolic and it’s due to get knocked down. But putting on a ton of short gamma here is tough.
Here is the trade I like:
Buy to open GPRO Oct/Nov 75 put calendar @6.20 — HALF SIZE
If GPRO runs above 92.50 I will ADD to the trade with more calendars on a different strike.
I was looking at butterflies but the skew is really weird, and I think the November options will hold their premium well into a pullback as it has earnings up on deck.