I would and sell a 450 put for about a month out and keep doing that until you get back in the stock. If the price moves up just move the strike price higher, but i bet between now and August you will get back in at a much lower cost basis. If you dont sell now sell a covered call to at least collect some premium. Stock isnt going anywhere for a while.
But not without pulling back first. It would be unlikely for this to do a straight shot from 385 to 500 (to say the least).
If I were him I'd lock in my gains and let the stock blow off some steam. If not that then I'd ignore the stock completely (as an owner) for a few months, because the pullback will cause psychological pain.