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No. of Recommendations: 1
"By 'exit the whole position', do you mean sell the long call too? THAT would cost me money! The long call is down $2.98 since I bought it. Assuming that the stock (and the option price) does not recover before Jan 17, I need to sell more short calls to at least make up for that loss on the long call (and yes, I understand that there is a risk that the long call could decrease in value even more - especially since it's losing time value). I entered the position on MFO advice - athough I can't remember at this point whether is is an 'official' trade or a TYCM - so I don't know if there will be further advice from MFO."


If you want to keep the position open, yes - hold your long call and roll now. (just make sure that you're comfortable holding GRMN long term)

Since you're still a member of MFO, have you posted your question over there? (I imagine that Jim likes GRMN and most likely thinks it's undervalued.)

Your thought process about "losing $300" on the long call isn't helpful.
You're going to have to change that type of thinking to be successful in the stock market:
- "Would I buy this stock today?".
- "Do I want to be invested in this stock longer term?". -- That's what matters. Don't "fixate" on a certain price (that you paid or where the stock has been).

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