What would Warren Buffett do in this market? Probably nothing, to be honest. He is more of a buy and hold type of investor.
Short term fluctuations shouldn't be very important to the long term investor. However using the options strategies I am currently deploying the profits are guaranteed based on time value. Selling covered calls (out of the money) is always a plus sum game because of the premiums involved.
This week was quite choppy overall with my portfolio losing about 4.5% and most assets taking drawdowns. By the end of the month my two BBIG contracts expire and I will either be called away or receive my shares back. If called away I will immediately write cash covered puts and collect more premiums. All the while I am holding or buying back the same shares and generating cashflow.
My BKKT contract expired and I will write another covered call this Monday, or whenever the price moves back up. This stock hasn't been performing that well since it is tied to crypto news. Once Bitcoin recovers this has the potential to rally.
Still waiting for my AVAX go recover too. This is down a few dollars from my entry and I dont feel like taking a loss on it, yet at least.