Neither, price seems highly manipulated on short float, very odd.
short because overhyped by institutionslong because institutions have interest free loans to buy stocks
SHORT because it's way overblown. But it's a "growth" stock full of momo, so who knows. The broader market is not rallying yet this one is... on a market pullback this baby could tank to 190 easy.Buying Dec or Jan PUTs seems pretty safe to me as your risk is fixed.
Understand your sentiment for Puts. Could you lay out any other effective options strategies or are Puts the most effective. The pricing on CMG is crazy...