Next steps
1. Take no action - monitor price and change strategy if price outlook sours
2. If want to sell at my Target Price --> write Covered Calls
- look for Strikes = stock target price, short time to expiration, high option premium
- at least gain premium from selling
3. Buy Protective Put to protect downside, but require cash outlay to purchase
- protective put will "kick in" when price drops to strike price
- "insurance" is valid until expiration date
*Credit: OIC Beginners - Managing Stock Positions