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Strategies & Market Trends : You buy a stock. It goes down, now what? -- Ignore unavailable to you. Want to Upgrade?

To: Bald Eagle who wrote (19)	7/8/1998 4:47:00 AM
From: AlienTech	Read Replies (1) \| Respond to of 112

Okay I need to do something.. I bought 200 shares of VVUS @ 13, my mental stop loss was at 12 but was in the middle of a move and missed it and before I knew the price was @ 10, well then before I knew it the price at 8 soon after the price was at 6. Well the broker called said he wanted some out rageous amount of 140k or something for me to keep the shares. So I sold out the 200 shares at 6 to 7, had a few bucks left so I bought 1/2 the number of calls for DEC 7 1/2 calls @ 1 1/4 which was luck since that was the low of the day. Now yesterday when I saw the bounce I put in an order to buy the other half but on the JUL 7 1/2 calls @ 1/4 but only half of them went through even thought the stock has nto moved the option premium had doubled. As of the close today I am only down 50% instead of 95% a week ago and the 1/4 options are now worth 2 1/4. A great 9 bagger if I was not down so much on the stock already. The problem is, I am trying to break even, but I cant sell the calls and buy the stock since the calls wont pay 50% of the margin requirements and I cant roll up due to the spread being a point. I can sell covered calls but then if there is a run up I loose most of the upside while retaining all the downside of it expiring worthless. decisions decisions..