During last month drop I sold SOXL $60 strike call for May 15th. Now that is deep in the money and loosing significant profit. What are option and how do you handle in such situation? It's about 200 stocks and sold 2 covered call
Posted by TemporaryInformal945
3 Comments
Roll up and out, take the loss
Hope it gets assigned early, put the proceeds in SGOV, and wait a couple of weeks for the 30 DTE 60P premium to be attractive enough to re-enter with a couple CSP’s.
Let them go and sell puts. You could even consider ITM puts if you’re really bullish.