First day down. Will be down the rest of the week and the next to finish towards $4 levels like that seen in 2009 once the default occurs. Sucks for you as earnings for this company will be muted by the default. Take this gift the market had given you and get out while this is still up.
You've been saying "it'll go down today" for months now. Are you going for the "the broken clock is right twice a day" club?
You've obviously got some other issue because, as I say, there are lots of stocks whose puts are cheaper. What's your issue? Were you fired by Blackstone? (possibly because you are unable to admit you are wrong?)