Sell put when stock price crushing. the stock price may not be bottom, in some case it could drop more. So do not sell all with all your margin. If stock price increase and gain some profit from selling put. Just close the position by buying the same put.
$Micron Technology(MU)$ 2023 S&P increased 24%, Micron stock price Increase 70% and Revence decrease 40%. If we just look based on S&P growth vs Micron share price, there is a overprice or downside of 46%. If we based on the company revenue vs stock price, there is mis match of 110% delta. Downside currently there is a possible of between -46% or -110%.