Put a stop loss just below today's lows. Could be a sharp fall if LOD is taken out.
Switched from neutral to bearish put spread position here.
I'd counter that with buying it just below today's lows. It's either heading up or traveling sideways. The bear case isn't made with the observation of what the market is doing but what you think it will do. I believe that's the flaw in your idea.
I came in assuming it was a short call. I am just not reading carefully today. :-)