That was an amazing run up, and today was an amazing sell off, but if there's another sell off tomorrow, it will be awhile before another amazing run up. Once people get burned by a stock badly, it takes a while to forget. GLTA and do your DD, please.
I do if I'm long. If online gambling become commonplace and Zynga is able to capitalize on it, which I think they're in a good position to do, I would consider it a good long bet. In the meantime, I consider it a good trading stock that I'm not worried about going under anytime soon, due to over a billion birds in the hand.
That's one way to do it. Surrounding the trade. Does limit your upside along with your downside, though. There are plenty of other ways to make money consistently in the market w/o buying insurance with puts. Patience, discipline and thorough DD is one. Even for swing trades I don't buy a stock unless I'm comfortable with the idea of holding it for a while. And, as a general rule of thumb, if I make 15-20% in a week on a stock, I cash in. If you could get that rate of return on a regular basis, compounded weekly, rolling it over, you'd end up with millions. Of course, it all depends on the stock, too. I try to find really undervalued stocks with a potential catalyst for a big move. The cheaper the better. It doesn't matter how cheap they get, traders still love pennies. They'll trade in fractions of pennies, but when the volume takes off, they always tend to go back to pennies, and those pennies make for huge percentage jumps on really cheap stocks. Then there are other strategies that generate steady income on large investments. There are too many strategies to discuss here. GLTA.