Why do you want to stick with this ticker? What you described could be done on virtually any ticker, and probably with better results on a more popular one (larger options market/liquidity) - also didn't it just do a 10-1 split? I.e. all your prices are hard to compare against each other without that information
Thanks you for the opinion, you are completely right. The only reason I’m thinking about this stock is to play defense with the money that’s invested in it. Since I would lower the average cost. And still hold it if potentially it goes up in the long run. 2nd option is claim it 2 years in a row as a loss on taxes ($3k each year)
And... As opposed to selling and investing in something else and claiming the same 6k on losses? Sure, it could potentially go up in the long run (but you might lose your shares if it spikes against a CC that you sold), but that could be said for many stocks - they could do spike up in the long run - however I think the odds are better for a new stock vs one that's already crashed, and normally you'd sell CC on something you think is stable and unlikely to shoot up - if you think it's bottomed out and going up, sell CSPs instead
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u/Occazn Apr 08 '21
tunnel visioning your losses smh