We remain long the July 115-April 115 calendar spread for 6.00 and short an extra April 115 call for 3.80. Since Friday’s gap-down opening exceeded my 96.68 target, we should expect lower still prices over the near term. I won’t be at my desk Monday morning to fine-tune a defensive strategy on-the-fly,  but as of Sunday afternoon, I’ll suggest buying the April 90-85 put spread two times for anywhere between 1.50 and 1.60. That price assumes the stock is trading near Friday’s settlement price of 96.66, but it would go up or down if the stock moves, respectively, lower or higher.  Whatever the case, you should shoot for a price about midway between bid and offer on the spread.  This addition to our position is meant as a short-term hedge against immediate downside risk.  _______ UPDATE (11:59 p.m.): Lower the bid for the put spreads to 1.20, since the E-mini S&Ps are up 14 points Sunday night and threatening to ream bears a new orifice when stocks open on Monday.  _______ FURTHER UPDATE (10: 01 A.M.) :  Goldman shares led Monday’s morning’s short-squeeze higher, making the April 90-85 put spread an easy buy for 1.10. We’ll record a 1.20 price officially and let it ride. If you work the numbers, you’ll see that at April expiration our total position now yields a theoretical profit come,  almost literally, hell or high water.  To the upside, the profits would ebb away above $130,  but the stock would first need need to ascend past 115, in which latitudes paper gains on our position would fatten so quickly as to possibly warrant an early exit from it.