Buy 8 shares so your total is 100. With all the volatility in the GME stock, the premiums for options are high Los Angeles Jo Adell shirt means you can sell an out the money call (say 150 strike price) and get the premium for it. That is assuming you don’t think GME will hit 150 next week because that is what you will be agreeing to sell your 100 shares for. But the point is that you can keep on selling options if they stay out of the money and this way you can earn some extra cash every week, thus lowering the cost basis of your 100 shares.
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It might not seem much, but the more premium you collect the better. Los Angeles Jo Adell shirt those shares to work, especially now that it might seem like they’ll be heavy bags in your portfolio.(I’m holding shares at an average of about 220 myself so I feel the pain. Selling options and collecting premiums will help me accept that I might have missed the big squeeze, since I’ll still be making some money.)