My amzn & Google naked put sell is In deep red . How to play it on Monday to recover the loss.

[Millionaire_Raj]

 

[Cuddles]

Raj, you're a millionaire, this is peanuts.

 

[IAS_LLC]

The only way to become a billionaire is to double down.

 

[Millionaire_Raj]

Raj, you're a millionaire, this is peanuts.

Is the below strategy ok for amazon and similar for google
1 Long atm pull debit spread. 2095/2065 28Feb to stop further loss and
1 Long atm call debit spread 2095/2130 28 Feb to recover losses quickly before expiry.

 

[ph1l]

Maybe try to offset with a Guaranteed Stop Order?
https://www.plus500.com/FAQ/Trading/WhatIsGuaranteedStopOrder

 

[Millionaire_Raj]

Maybe try to offset with a Guaranteed Stop Order?
https://www.plus500.com/FAQ/Trading/WhatIsGuaranteedStopOrder

Thanks ph1l. Didn’t expect this much down.
Now my 8k is in risk.

 

[IAS_LLC]

Is the below strategy ok for amazon and similar for google
1 Long atm pull debit spread. 2095/2065 28Feb to stop further loss and
1 Long atm call debit spread 2095/2130 28 Feb to recover losses quickly before expiry.

Just cover your shorts, and walk away.

 

[Millionaire_Raj]

Just cover your shorts, and walk away.

Thanks for the response IAS_LLC.
Taking 8k hit is a big loss. Can suggest a way to recover some at-least ?

 

[Saltynuts]

Raj, you're a millionaire, this is peanuts.

Lolol!!!

 

[Millionaire_Raj]

I'm not sure how it works, but if those options expire they way they are, are you then automatically exercised? If so, do you have enough money to cover the ownership of the stocks? I mean, they are not bad stocks to own.

Thanks Overnight for the response.
These are CFD options. Broker close it one day prior at market price.
Nope. Don’t have deep pockets to own these stock/cfd.