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SoFi stock has dropped heavily in the last month, creating a massive spike in implied volatility that makes option premiums historically expensive. Instead of panic selling at these lows, I break down the specific Strike Prices and Expiration dates I am using to sell Covered Calls and Cash Secured Puts to lower my cost basis while waiting for a recovery. Watch to see my full trade plan for managing this downside risk without adding more capital to the position.