๐Ÿšช Close Position โ€” Take the Loss
๐Ÿ“… Roll Out โ€” Same Strike, Later Expiration

Buy back current position, sell same strike at a later expiration. Collects more time premium.

โฌ‡๏ธ Roll Down & Out โ€” Lower Strike, Later Expiration

Move to a lower strike with more time. Reduces assignment risk but may cost a debit.

๐Ÿ›ก๏ธ Hedge โ€” Add Long Put (Create Spread)

Buy a put below to cap max loss. Converts naked put into a defined-risk spread.

๐Ÿ’Ž Hold Through โ€” Diamond Hands Analysis