On an intuitive level, I've been a Groupon (NASDAQ:GRPN) Bear from Day 1. It's not that I don't like the product offering. Heck, I used a Groupon offer to stay in a ritzy Washington D.C. hotel this last weekend, and it was a great value. However, I struggle to see how a Middle-Man re-selling desperately cheap offers can secure long term business success. Plus some have questioned the accounting. So I've been interested in shorting GRPN for awhile, but for whatever reason, E*Trade wouldn't let me short the stock itself. So with GRPN's recent rally (75% in 15 calendar days), I finally got my short on via Put options. The options are still dirt cheap, with in-the-money $5 Dec 22 Puts currently pricing in just .08 of time premium. Leverage for darn near free.