UAA (under armor) really hurt me. Now I own 300 shares of stock with my break even point at around $30.00. I'll be selling some calls and puts against this over the next few months to try and bring down my cost basis.
I like you trade around earnings. When It turns out to be a looser I will roll if I can see a good shot of breaking even or turning a profit in 30 days. If if is a large loss like SNAP last week I will take the stock and sell calls against it with only 7 days left in the contract. That way you can reduce your cost at a much quicker pace than just rolling when your far away from the current price. Also with a 7 day contract if the stock recovers quick you can roll up in price and out in time. Another thing I like to do on any loosing trade is sell spreads Calls above if the price is going down or puts above if the price is going up. I have even done both to defend against getting whip sawed. A little while back I entered an iron condor in DAL as soon as I entered the trade the price started moving against me, I started selling put spread and it one time what started out as a simple 4 option condor had grown into a 19 option monster. When the smoke cleared and all position were close I made a small profit.
When high performing stocks are going bad, then this is the time to make a right decision regarding your stock. Keep calm and have a patience when market situations goes wrong. In this case you can take help of market experinced who provide give right guidance to you.
