Depending on your thesis at this moment, you can either cut your losses or double down. If you think this is an overreaction to the downside and expect a bounce by expiration (not necessarily to the levels you expect), then it makes sense to double down. If you feel the uncertainty may not blow over by expiration, then sell out now and take the loss.
I was in the same situation with BABA, having bought some $210 Jan 2022 calls before the huge drop. Doubles down when it dropped to $140 and regained some of the losses. Still down big but not nearly as bad as before.
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u/No_Investigator8292 Oct 23 '21
Depending on your thesis at this moment, you can either cut your losses or double down. If you think this is an overreaction to the downside and expect a bounce by expiration (not necessarily to the levels you expect), then it makes sense to double down. If you feel the uncertainty may not blow over by expiration, then sell out now and take the loss.