Quick Option Trade on AT&T

Shares of AT&T have been pummelled lately falling from a recent high of $33 to under $25, with almost no relenting on the slide. The trend doesn't seem to be over yet, and we can profit significantly from even a small continued drop in the stock.  The options on AT&T (T) trade for a very low premium, so adding an option position is relatively cheap.

With the stock trading around $24.86, we are buying the January 2022 $24 Puts for $0.71 cents.  We will keep this position for just a few weeks since these options expire in 2 months, and we don't want to lose on the time decay.  This is a high risk trade considering any immediate rise in the stock would decrease the value of our Put options. We also aren't putting a stop on this trade since we don't want to get closed out on a sudden price increase.