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Tim and Guggsi, I can't say enough how much I appreciate you! I feel lucky that I found SO and Kim, and now you guys, when I was searching solutions for my problems. I guess I will take your advices and be forward looking again, guys, thank you, for sharing and helping. Best!!

Fugu628, the advise i can give you is to close everything, take the loss as an expensive, but very important lesson. and forget about NFLX, stop looking at it. I am saying this, because me too i made many times the mistake to hold on to losing positions, try to "massage" it here and there, only to have losses which i never thought possible. Hoping that the position would rectify itself and literally going through a nightmare. to trade successfully you need a clear mind and positions sized such that the maximum loss per position, but also for the whole portfolio is bearable. At this moment you can still decide yourself if to close or not, if NFLX goes higher you will be forced to close, and the damage will be bigger. Not only, if you get margined out you portfolio will be destroyed and you won't have enough for new investments. I know that psychologically its a hard blow. but i also know that once you are out, the pain is lesser and lesser. and with time you can get back at trading NFLX, but this time with spreads (defined risk) and smaller. earlier this year i had a short out spread on UVXY. It went into the money and i took delivery for the short put. I wanted to sell it at the first spike......which never came. it was a small position which became a huge loss. The more it dropped, the more i hoped for a spike and my mind got completely clouded. I lost huge money there...but i learned the lesson.

Hi Fugu628, I've been in similar situations, being buried by a trade that went poorly and trying to dig your way out. It's a mental tug of war inside, you want to make your money back and make the loss sting less but at the same time if you sit back and look at it as a fresh trade, would you put it on now? Most of the time I answer no to that. If you take it off, you will breath a sigh of relief and a big weight will be off your shoulder. You can then focus your energy on new opportunities. Tim