Interesting that not many have mentioned volume. With less than a hour of trading the volume exceeds 12% of total shares outstanding. At this pace whether you're long or short there's enough volume to adjust your position. Latest short interest report showed about 6 days of trading volume was short. That's easily surpassed today. No message intended by noting volume, just something to consider.
Corgy02 is wrong. As a buy/write the premium is earned and only requires to sell the stock if it appreciates above $35. So keltus1952 would earn $5 on a purchase price of $27 between now and June if the stock stays below $35. That's nearly 19% based on VRX's current price, providing a downside break even of $22. Keltus, if you think that's sufficient protection, then the strategy is sound. Just be aware that if the stock continues to fall sharply the June call will retain premium for some time, limiting the downside protection somewhat.
There are several large established hedge funds that are disproportionately long VRX. Some potentially risk failure from large client withdrawals with the fall of VRX. As a result, many are using options to try to stop the bleeding. The result of that is an explosion in option premiums for VRX.
Whether you are bullish or bearish you will likely enhance your potential returns by employing option based strategies to gain exposure (long or short) on VRX. Take a look at the options market before entering any new positions, you may find the risk/reward with option positions are far superior to stock investing alone.