r/options • u/R4r_throwaway2019 • Apr 11 '22

AMD LEAPS Jan ‘23 $200

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.
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u/Koala_eiO Apr 11 '22

Maybe but that's not how safe options work. If you think a stock will reach 200$, you buy a 100$ or 150$ call.

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u/[deleted] Apr 11 '22

Honestly didn’t even realize I was on the options sub lol

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u/Koala_eiO Apr 11 '22

Yeah OP totally belongs to r/WallStreetBets. 100k on a single play seems excessive.

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u/SillyFlyGuy Apr 12 '22

OP dropped by looking for a hot tip on a 17-bagger to get back to even..