Good advice squid...take what you can from options and move on...cut the losses quickly and move on (and there will be losses, its part of the game)...avg down is not an options strategy, usually ends up worse...(there are a few exceptions thou)...i'de much rather avg UP on winning options trades if the MOMO is intact...
keep it simple and you will prosper.
and always remember, Options are not investments, they are trades (5 mins, 5 hrs, 5 days, etc)
i think its something like 80% of all options end worthless, so thats puts the options buyer at a major disadvantage from the get-go
may the upcoming week be the best ever for all of us