Following the advice of a director from a certain investment service, I sold puts on a specific stock months ago. The stock price was significantly below the strike price well before the expiration date, yet there was no suggestion to buy back the option. It expired around 100, far below the 110 stock price. Since then, the stock has consistently dropped, now standing at approximately $73. My losses exceed $26,300, aside from the $995 premium earned and about $880 from a covered call sale. A few weeks ago, an alleged expert praised the stock, and the director assured us that our losses would be recouped soon. The stock briefly spiked to $89, but no advice was given to sell and mitigate the loss. It has continued to decline without any signs of recovery. I need to take action to stop further losses and plan to sell tomorrow. Additionally, the ratings for this stock have dropped, and the service has stopped rating it, while another analysis firm has downgraded it to Neutral. I have reached out to several representatives for guidance but have yet to receive a response. This has been a frustrating experience with the research service.
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