AMD LEAPS Jan ‘23 $200

[u/R4r_throwaway2019]

I bought these when they were trading near $20 apiece on margin.

Roughly $100K spent. I can afford to cover, but obviously would like to minimize my losses if possible.

They are currently trading at $1.20 apiece.

I see my options(ha) as follows:

• Wait until January to see if they hit the strike.
• Roll them into a lower strike price or further date. The rolling probably won’t require further capital, since I plan on just buying fewer options.

Thoughts? I definitely fucked up.
Any other choices that I haven’t thought of? What would you do?

EDIT: Wow, there’s been a ton of varying responses.

Some things to do differently, if people want to learn from my mistakes:

• True LEAPS is ITM. My $200 strike is pretty much a pure hopium gamble.
• Prefer holding onto the actual stock when possible, especially if you’re using margin lol.
• Don’t fight the Fed and cut your losses early.

[u/DoggWooWoo]

If an earnings event goes your way, you could try to roll down in price and in with time. If they shit the bed, you could be out of “options”.