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Today, we’re opening a new bearish trade on Twitter (NYSE:TWTR). The bearish correction tech and social media stocks have endured during the past few weeks has caused TWTR to completely fill the gap that was formed on the stock in early February when it jumped higher in response to its latest quarterly earnings announcement. However, we don’t think the stock is done falling.

We believe the fallout that both TWTR and Facebook (NASDAQ:FB) have been facing from their practice of selling user data has not yet fully run its course. TWTR has notoriously struggled to monetize its user base (especially when compared to the monetization efforts of its competitors, like FB), and if it is forced to reduce its revenues by scaling back on the sale of its users’ data, we expect traders on Wall Street to send the stock even lower.

We are looking for the stock to drop to support at $26 (the resistance level that was in effect from mid-December 2017 to mid-January 2018), and potentially down to support at $24, in the run up to the company’s earnings announcement on April 25, before market open.

‘Buy to open’ the TWTR May 26 Put (TWTR180518P00026000) for a maximum price of $2.05.

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InvestorPlace advisers John Jagerson and S. Wade Hansen, both Chartered Market Technician (CMT) designees, are co-founders of LearningMarkets.com, as well as the co-editors of SlingShot Trader, a trading service designed to help you make options profits by trading the news. Get in on the next SlingShot Trader trade and get 1 free month today by clicking here.