Advanced Micro Devices Inc (AMD)

[HailMary]

I just picked up a sizeable amount of Jan 19 calls for $1.00. I'm shadowing 25% more shares than I did with the Jan 15 calls. I went a little more aggressive and used 75% of the profit I made from the Jan 15 calls. The original Jan 15 call purchase was made using money from put writing proceeds that have since expired. It feels like a free gamble to me, and I still have a profit overall if it fails.

This really is a 'protection' against a huge run up, which I think is likely.

Current AMD position:
Long shares (avg price $8.63)
Long Jan 19 calls (avg price $1.00)
Short Dec 17 puts (avg price $.75)

This is definitely a bullish position with no downside protection save for a stop loss pullout I have in mind (if AMD drops below around $15.50 I will unload everything, and probably roll the puts). I can't buy protective puts because of the IRS rules which would screw my long term cap gains.

HailMary