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REDDIT

Getting out of a large deep itm protective put without exercising?

A
Jun 6, 2026 · 16:57

I have a large stock protective put position on 10,000 shares of Blackstone. My broker wont let me close the position in a single trade(shitty broker).

I only have 100,000 in available margin in this account so i cant close out the options or shares in a single trade.

The puts are weekly 122s, pretty deep itm. I want to exit to buy leaps.

Any advice on an exit? I don’t want to do 20 transactions of selling some puts then some shares.