Off topic, but curious what you'd do in my situation.
Back when market was tanking, I hedged most all of my NVDA position when the stock was around 160. I was fearful of losing stock value, so I sold calls against most of my position to fund a put spread.
The calls I sold were -C300 50x 6/21/24 at 176.54
The put spread expired worthless.
I had actually rolled these sold calls up once from 250 and payed a hefty premium. Now the situation is basically untenable. Sitting on about $2mm gain in stock that I will likely lose out on from being too slow to continue rolling the position as the stock went up.
Worst part is my cost basis on NVDA is $38, so it's going to be a massive capital gains hit if all the shares are sold away.
Advisors are telling me that if i'm still bullish on NVDA, to simply take the loss and re-enter the position. Just wondering if you'd have any suggestions. Shitty situation to be in.
as long as your shares don't get called you don't pay the hight tax ... so can you not just roll your -C300 June 24 Covered Calls, to Jan 25 for some extra debit, and close a few calls with the proceeds and see how it goes ... save a few shares at a time, cheers!!