Seems to be no end to this (land) slide. I'm afraid this will be dropping for a good while longer - maybe below $30 by 4th of July. Then when next earnings come out - YIKES! Who knows? $26 - $27 ??? If it has a similar horrible earnings as last time this will happen.
Get used to seeing $39 as the 52 week high for about another 11 months (then start dropping lower obviously).
You are SO FAR off. That isn't even remotely within reason of the stock technicals or T's current business situation. Yes it will go down a bit more, but NOT like that. If I saw that as the case, I would not have sold my put option earlier this week.