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

[ironchef]

It’s not a risk if you can buy the shares in 2 years, I don’t know his situation.
Sometimes I’m hedged that far or wouldn’t mind having the stock, then trade LEAP puts for getting credit on debit spreads (selling LEAP puts at high vol then buying higher strike puts when vol subsides).
I’m not saying it was a great idea either, but I just didn’t see any others, while also not fully knowing his situation. I do agree that getting out with a loss would’ve been best, but he also asked what else he could do to continue playing...
(only $1K extra of temp loss today after losing $12K earlier actually seems positive at this point)

His problem is not shorting naked puts, it is he cannot afford to short GOOGL and AMZN.

 

[traider]

Dozu says mortgage or pawn everything to raise capital. Buy shares in pawn shops when done.

 

[ironchef]

Dozu says mortgage or pawn everything to raise capital. Buy shares in pawn shops when done.

@Millionaire_Raj lives in Singapore. I don't think they have subprime mortgage.

 

[zoned_post_meridiem]

I think the simplest suggestion would be to deposit more money, take the stock and hold on to it for a while.

After a two-day nearly-2000 point drop? Definitely—if you have the capital. Which is why the rule of thumb to not risk more than 5% of your capital on a trade is so good - it gives you the option to risk more when necessary.

 

[tsznecki]

Anyways, it’s easy to not propose a solution and criticize other ideas, so what’s your best shot for him to recover his lost $12k?

A job.

 

[ironchef]

After a two-day nearly-2000 point drop? Definitely—if you have the capital. Which is why the rule of thumb to not risk more than 5% of your capital on a trade is so good - it gives you the option to risk more when necessary.

AMZN drops another $64, GOOG another $48. Good thing he got out. If I were him I wait a few more days and get back in.

 

[PoopyDeek]

Yes, I can assume a lot, including that a lot more can be done with it later, or that making $12k back can take 2 years for some people.
Anyways, it’s easy to not propose a solution and criticize other ideas, so what’s your best shot for him to recover his lost $12k?

There is no repair strategy. What you proposed is now down a double. Good fucking call, Bro.

 

[ironchef]

Thanks all for your posts . position closed with loss of 12k on margin shortage .
Need to recover . Sheer Greed .

Get it out of your system and move on. Been there done that.

 

[guru]

There is no repair strategy. What you proposed is now down a double. Good fucking call, Bro.

I actually decided to take such trade, just to test it out and to eat my own words, and so that you shut up. It's not down a double, while we'll see what happens. Keep in mind it was an idea, not something anyone else needed to do. You have own trading style, but this doesn't mean nothing else works.

 

[zoned_post_meridiem]

Not to throw fuel on a bad idea, but at what point in this absurd drop are we all going to be tempted to start selling naked puts?