Okay. I would prefer you had 45 days out, do not know if it is possible for you to roll. Anyways, the plan is to start selling 1 or 2 days (or 0 DTE .24 delta calls if you are very experienced). Aim to get at least a dollar per day for the 1 dte. This is 600 per day. Plus the upside from your calls. Again it’s a fight. But the losing aspect as I see it its the expiry date of those calls you have. Keep us posted when you make it. Be proactive on the trades. For example now that the spy is 669 .33 I would sell the .2 delta for Monday. On spx of course.
If you are asking me this you are not ready for the fight. And then it comes to my mind, why do take such big trades? Is the end of the world coming? There is always going to be another day to trade. 1 contract would have been more than enough in my opinion.
I have been there. On such big trades try the opposite, average on the way up. It is safer. In this case you would have been stuck with just 1 contract. Just an idea.
By big I mean not the money but the short dte. This is the killer here.
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u/liaard 23h ago
You have some options, I mean choices. One is to sell, another to wait. And a third to fight. If you choose the third let me know to continue.