If it were me, I would sell weekly covered calls anywhere above $460 every week until the stock stabilizes and then move the sell price up each week about $25-$30 above trading price on Monday. If the stock goes down more, then you have a more difficult decision to make. Just don't panic.
Nice trade, expensive, but probably worth it. Don't freak out if the stock drops on Monday. Look through the numbers, earnings reports, estimated sales based on upgrades, and in my opinion you will make a very nice return. If there is a China Mobile deal announced, you will be smiling.
I wanted to play long term. scared by short term action.
Found that there is no time decay in 2014 Jan 300 calls.
How do I project from short term volatility? is it a good idea to buy weekly puts against these long calls?