If I were you, I'd sell the $2k strike against that. It's trading at $275... You take out your cost, and $210 in profit. Plus you have a max upside of $750 ($2k - $1250) in case we expire above $2k... That's a pretty good deal... Best case scenario, your $60 goes to over $1k, worst case you go from $60 -> $275 and lock profits...I hold some Jan 20 1250 calls , cost $60 , now $500
I do not want to sell , but want to take out some insurance
What should I buy to , limit my downside , but still have some upside ?
Any thoughts appreciated