During the course of serving on an audit engagement team, you discovered that your client last year recorded the receipt of cash as a sale rather than as a loan. As a result, the company's revenues and profits were overstated. You expect the company to eventually issue a "prior-year accounting restatement" and expect its stock price to fall.
Buying a put option essentially is a bet that a stock will fall in value. Would it be appropriate for you to buy a put option on this client's stock from an outside option seller before the client's forthcoming accounting restatement is announced publicly?