Lowering my avg on -80% stock (yikes)

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This is not life-altering, but it’s bugging me that I’m down so much. I still believe LCID will hit $15 in the next 2-3 years.

I purchased Lucid Motors LCID: 700 shares @ $26.76 in 2020.

I’ve been selling covered calls and making decent money to offset the unrealized damage. It’s definitely helping, but I’m wondering if there’s another route(s).

If I buy 700 more shares at LCID’s current price, my average will decrease by ~40%. And it’ll only cost me $3,500.

Are ATM CSP’s 1-2 months expiration the best approach to this plan?

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New-Gas3080

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Posted: 1 year ago
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