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Here is what is currently happening.
Probably a safe trade but I don't know much about the company and when I learned a little more I wasn't real convinced this was a good trade to put on.
Looks great on paper but this was a terrible trade trying to couner trend short this HUUUUGE earnings winner (not really in my book by ms. market sez so). Very high risk, was very underwater with a huge position and lucky to get out as when I closed it squeezed above my short immediately. I am long now with a tiny position on a gap up, this stock has many bears trapped imo who were between 46 and 49.