Based on your flip-flop from a few hours ago take a look at:
PCLN @ $590.00
Buy Mar16 2012 565.00 Puts @ $16.20
Sell Mar16 2012 530.00 Puts @ $5.70
Debt about $10.00
Move the strikes according to how far you believe PCLN will drop, and how much you are willing to risk.
:)