Anavex Life Sciences Corp (AVXL)

[ALP7]

Jan 2025 $10 call option bid/ask currently is 3.30/4.60 and almost negligible volume. Might cost you more than $4.00.

I prefer to sell out of the money covered call options. Rarely buy calls but when I do, I buy deep in the money calls. I'd rather gamble on Jan 2024 $5 call options. The bid/ ask is 3.70/4.00. Now your breakeven becomes $9 instead of $14.

Options are leverage and adding leverage to a speculative stock is very risky. I only buy calls with money that I'm prepared to completely lose.

Since you still believe in the company, just hang on and keep praying. I have a couple of stocks that have been hammered and I still like the companies so I'm hanging on to them and expect them to recover, eventually!.