Like I said. If you bought a January 30 put option when the stock price was still $71/share for $1.50/share, that put option is probably going to worth $6.50-7/share tomorrow.
And it would have been cheap insurance versus taking a $5-6/share hit from $71.50-72/share right now. I hate saying I told you so. But I told you so.
That said, Qualcomm stock is a great buy at these price levels. I think I'll reverse my position and go long, after layoffs are announced. Afterall, shareholders first, employees second, and I'm sure the CEO with his nice $95 million incentive package will make sure the shareholders are taken care of first.