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I have 100 shares at $215. To be fair that seemed like a fairly good strike but obviously now they're down massively. So rather than shit the bed and sell all, i thought I'd ask if you guys have any tips?
I could sell a 180 put and bring my cost basis down? Do we think there's much more room for it to run down?
Premarket price right now is 185. At 100 shares that’s only -$3k. That’s not great but that’s not the end of the world either. I don’t know how big your account is but here’s what I would do 1) buy 900 share now at 185, get filled then immediately sell 900 shares. Then your 100 shares at $215 are now $188. 2a) Sell 3 KOLD 98P (or 107C) expiring Feb 23. Premium right now is 10.40/contract so 3 should supplant your $3k loss. 2b) Sell a 102P/103C KOLD strangle exp Mar 08 for $2900.. it’s $100 less premium but only takes 2 contracts and you can manage each side (using gains to roll farther ITM for 0 credit) as price fluctuates.
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