hey everyone, in a bit of a pickle and could use your help.
i invested in fundrise’s innovation fund last year, and it went public this year (VCX ticker). my cost basis is somewhere between $20-$30, and right now VCX is trading at almost $300.
unfortunately i can’t sell my shares until the lockup period is over in September of this year. if i could, i’d sell all of them.
imo, VCX is going to come crashing back down to earth and i want insurance on that crash. i looked into buying puts, but i have no clue how to evaluate the best contract to buy. IV is looking really high, contracts look expensive, overall volume is low, etc.
for october 16 puts, would i want something ITM and pay up, or should i buy a put that is closer to my cost basis?
looking for any and all advice! thanks!