After equity trading one and half years, I started trading call options four months ago. Now I have one third of my portfolio in long calls, of which half are bank of America (BAC), expiring from Jan. 2010 to Jan. 2011. Now all my call options are in their all time low. I definitely can not sell at this time. I am trap in theses calls. I know I can't go on my current trading strategy. I need to learn to do the day trading. But for now I need a strategy to hedge my portfolio. I am thinking buying Visa (V) put as an intermediate term (from Jan. 2010 to Jan. 2011) hedge strategy. Visa (V) is still in its year high after earning report. I'll appreciate all the advises.