Caught heavily holding the bag on SLV via The Wheel strategy. Need some veteran advice.

Hey everyone, I’ve been running the Wheel strategy on SLV for a while now, consistently collecting premiums through Cash Secured Puts (CSPs) and transitioning into Covered Calls (CCs) when assigned. Everything was going smoothly until a sudden, early assignment caught us completely off guard right before the recent drop. Currently, my wife and I are sitting on a massive unrealized loss, and honestly, I’m at a crossroads on how to manage this. Here is a breakdown of our positions and cost basis: **My Portfolio (1,100 shares total via CSP assignment):** * 300 shares @ $70 * 400 shares @ $74 * 400 shares @ $75 **My Wife's Portfolio (800 shares total via CSP assignment):** * 300 shares @ $66.5 * 100 shares @ $70 * 400 shares @ $74 When the market started shifting, we got assigned early on everything almost simultaneously, and SLV just kept drilling down. I decided to hold out and see where it would find a bottom, but as you know, it’s now heavily chopping between the $50-$55 range. I never anticipated being *this* far underwater. I want to sell Covered Calls to start chipping away at the cost basis, but the premiums at our breakdown strikes are practically non-existent right now. Selling CCs below our cost basis feels way too risky if SLV decides to make a sudden recovery. So for now, I've just been waiting it out. We haven't sold a single share, but I won't lie, seeing it sit this low definitely brings some anxiety about how much further it could slide. For those who have been stuck in similar situations or options veterans who have survived heavy drawdowns while Wheeling: What is the move here? Do I just sit tight on my hands and wait for a structural shift in silver, or is there a smarter way to manage these positions without locking in a massive loss? Appreciate any insights or advice you can throw my way. Thanks!