Bought shares bought option strategy

[clancyfish]

Is there any number of strategies that can be employed to the following:
bought 1000 shares xyz @6.11 in Feb now down to 4.50
simultaneously, bought an option xyz @.64 now down to .015 with expiry Dec 11.
Now, to get out of this or turn to advantage with a strategy/s - is this possible, theoretically speaking. Many thanks to anyone that puts their head to this.

 

[skyQuake]

Is there any number of strategies that can be employed to the following:
bought 1000 shares xyz @6.11 in Feb now down to 4.50
simultaneously, bought an option xyz @.64 now down to .015 with expiry Dec 11.
Now, to get out of this or turn to advantage with a strategy/s - is this possible, theoretically speaking. Many thanks to anyone that puts their head to this.

Call oppies i assume?
All your deltas (exposure) are long. Sorry but you can't magic away bad trades like that.

 

[mazzatelli]

Is there any number of strategies that can be employed to the following:
bought 1000 shares xyz @6.11 in Feb now down to 4.50
simultaneously, bought an option xyz @.64 now down to .015 with expiry Dec 11.
Now, to get out of this or turn to advantage with a strategy/s - is this possible, theoretically speaking. Many thanks to anyone that puts their head to this.

What is your outlook in terms of price and or volatility?...then possible actions can be discussed

 

[mazzatelli]

What is your outlook in terms of price and or volatility?...then possible actions can be discussed

Initially read this as bought shares(-) and short ops(+)
What SQ said