It's just eating a little into my massive amounts of gains so far. It's scary, yes, but logical.
That said, fingers crossed for an end-of-the-day miracle.
May I suggest you look into a book: McMillan, Options as a Strategic Investment. Look into the section on LEAPS. I don't know how it would work with margins, but the basic premise is you take profits, and buy LEAPS to participate in the future upside, while limiting your downside risk.
IMHO, 280% is just super risky. @Jonathan Hewitt or @Papafox have great posts about trading LEAPS strategies.