Jeff,
You are in a tough position. You can just get out and take the loss. Alternatively you can construct a collar by selling some long-dated calls up near your purchase price and also protect further downside by purchasing 10 protectve puts just under the current price. Next time you buy some stock make absolutely sure you know your exit strategy and get out when your stop is hit.
OptionsMike
www.safe-options-trading-income.com
--- In ConservativeOptionStrategies@yahoogroups.com, devdanbrit@... wrote:
>
> New to board and really happy to be here. I think this market may have shown its bear claws
>
> I have 1000 shares of MEE bought at 42 and now its at 27.50 no current calls or puts
>
> What on earth can I do now?? I'm really in a jam
>
> Thanks in advance
>
> Jeff
> Sent from my Verizon Wireless BlackBerry
>
No comments:
Post a Comment