HOOD 100C Aug 8 – Down $1.3k, earnings coming up. Hold, roll, spread, or cut?
Picked up 3x HOOD Aug 8 100C contracts at $11.80 when it was ripping — thought momentum would push it higher. Now I’m down ~$1.3k, and the current bid is around $7.
Earnings are coming up in a couple weeks, and I’m stuck debating what to do. Implied volatility is high, so I’m expecting a big move — but the IV crush after earnings could F the position if it doesn’t gap up hard.
Here are the options I’m considering:
• Hold and hope earnings send it flying
• Roll down/out to a lower strike with better odds
• Convert to a vertical (e.g. sell 115C to reduce cost basis)
• Close now and take the L
Anyone been in a similar spot or have thoughts on how earnings might impact the play? Appreciate any insights on how best to salvage or flip this.