Facebook has developed an investor-class of "bagholders," but the price action is getting extreme and we're getting to the lower range of what the initial pricing should have been at 28.
Here's the trade:
Sell to Open -4 Jul 26 Puts at 1.50
This puts your basis at 24.50, which gives you a return on basis of 6%. I would happily own FB at that price and will sell calls against it if assigned in July.