Options expired. Taking delivery on a bunch of shares @ $1.50 tomorrow. Average cost is probably $1.31 or so after premiums.
Choices now: 1-Set sell limits at various levels. 2-Sell Oct. $1 calls for .27 (close to your break-even) 3-Sell stock & replace with Oct. .50/2.00 Call spreads for .30 in case the ship is sinking. Saves the last .50 in case going to zero. Stock as .83 so a bit below intrinsic value. (decent volume in the Oct. options) ***Or do several different strategies such as the list above. 100 shares for each strategy. ***Not much you can do with options in the near-term months. ***I know nothing about the company so "going to zero" isn't a prediction. GL
Buy .50 Call for .44 Sell 2.00 Call for .14 Total cost = .30 ($30) Sell 100 shares of stock for .83 ($83). Call Spread now replaces the stock sold. Losses limited to $30 compared to $83 (stock). Profit limited to $120 compared to unlimited (stock). ***Prices based upon friday close. ***No need to do this if you're not concerned about the stock going below .50.
Buy orders at .85 and .80 activated. Trade cost now 1.31. Price is too low to sell covered calls yet.
Sorry bout the lines, ...still and all I see on a chart of sndl, no sign of strength yet imho A lot can happen before the 11th tho and make this work just fine.