I bought July 160 puts at $10 premium on Thursday.
Friday's action sank me by @ 25%.
Now my question is, what should be my stand at this moment. I have time in hand till July OE but if RIMM continues to climb then I my puts value will move towards 0 and fear is there that they will expire worthless.
Should I say good bye to my 25% of money (loss) and sell to close this option?
Is there any other better approach at least to cut my losses?