You can also buy a put debit spread for Dec. 22nd $197.5 / $195 for a $0.75, which will allow you to get 3.5 times your risked amount, if it closes below $195 on Dec. 22nd.
This reduces your amount at risk and allows for a 3.5R
Stop loss on this option spread, should be placed at $0.35.
Happy Trading
Lindosskier