Shorting Party Gaming right now +EV?

[BeL0wMe]

Party has been one of the worst stocks I have ever seen, as its dropped from 175 to 90 in just about a year. I have only played the mutual fund game, which is a much easier one to be a winner at, but alas I'm not very knowledgable in equities.

Would it be worth my while to options trade on Party, since I can easily see it hitting 80 by the end of the year, now that the internet gambling bill has passed. Anybody knowledgable, Naj? DesertCat? Help me out on this one?