Looks like these 600 SPY calls expiring next Friday are worthless after today’s dump. Any recs to salvage?

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Were they LEAPS? The big trend nowadays is to buy LEAPS on SPY or a stock and then sell covered calls.

I can’t wrap my head around buying call options. I don’t think you have any recourse. Hasn’t theta already killed the contracts?

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Yeah, I guess if I roll I’m essentially doubling down on a likely lost cause at this point

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I know I know… Stop loss… I forgot to set it.

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How are they worthless after a 0.6% decrease, particularly if they don't expire until next Friday? What's the strike price? How do you know it won't rebound before then?

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Bought it at $3.63. Sold a couple at $4.30. I now have a few left but definitely don’t know if it’ll rebound. I hope it does so I can salvage a bit. Here is the information on the call. Expires next Friday on the 22nd.

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