This is why options are so attractive. When the stock dropped 10% from its high of 17.83 to 16.13 or 9.5% the put option increased from $0.73 to $1.59 which is a 217% increase. You can see the PTON stock price in the right and the put option price on the left. You take the meat of the move and you go on. I made 45.68% profit on my trade.