Reddit and Robinhood. Down $50k on a $200k portfolio via assigned CSPs. Earnings next week. Sold CCs below cost basis. How would you play this?
u/Earlyretirement55 ·
Reddit — r/thetagang
· April 26, 2026 at 14:46
· ⬆ 20 pts
· 💬 63 comments
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Hey everyone, looking for some tactical advice on a heavy position I’m currently managing.
For context, I’m running a $200k net portfolio and I’m currently sitting on a $50k unrealized loss (25% drawdown) split between two symbols.
Here is the setup:
• These bags started as Cash Secured Puts (CSPs) that got assigned.
• I believe in the long-term prospects of holding both companies, but the capital invested is a huge chunk of my overall liquidity, which is starting to make me sweat.
• To try and generate some yield while holding, I sold Covered Calls (CCs) against the shares.
• **The catch:** The strikes on my CCs are about 10% below my original cost basis. I collected about $3,000 in premium between the two symbols.
**The Dilemma:**
Earnings for both companies are next week. I’m trapped in a classic whipsaw scenario. If earnings miss, the bags get heavier. If earnings beat and the stocks gap up, my shares get called away below my break-even, forcing me to lock in a massive capital loss despite the underlying ripping higher.