I did not sell, I have not had any position here in about 6-7 weeks, the last time I did an option trade.
I am opposite your position here, if it gets to 33 I was going to buy puts. Since it is down today, I am tempted to purchase them anyway, but it seems like it may just move sideways for awhile.
Obviously the short sellers have no reason to cover at this point, the good news is in, yet nobody is buying. I hate to sound redundant, but "buy the rumor sell the news" is a Wall Street cliche for a very good reason.
For some stocks, yes, not for ZUMZ. This stock has a much higher beta than most.
Of course the 33 dollar did not hold, not to say that it will not get there in the next day or 2 if earnings beat estimates. At that level, I will certainly be looking to short in some fashion. One caveat, again, is the high beta. This stock tends to get way overbought before often taking sudden plunges. I have been trading ZUMZ since around September of 2007, so I know the history.