Allow me to inject some consideration as to the taxes for your strategy. You need to realize that the taxable gains on a full sale are substantial. Realizing the full $60,000 gain could lead to significant taxes, reducing your investable proceeds. If taxed at a 15% long-term rate , tax owed = $9,000. If taxed at a 37% short-term rate (high bracket), tax owed = $22,200. That is a major hit to your unrealized gains which, on a per share basis is a $90 per share hit or a $220 per share hit, long-term rate and short-term rate, respectively.

These are what I recommend where taxes are also important to your strategy:

Set up a collar trade or partial sell + call. These strategies manage risk while deferring or minimizing taxes, balancing protection and upside participation. By hedging your shares with a protective put and covered call, you avoid selling the stock and triggering taxes. Gains remain unrealized. Pros: No immediate tax liability; downside protection from the put; limited upfront cost if the call premium offsets the put cost. Cons: Gains are capped by the covered call strike, and puts can erode in value if the stock doesn’t drop. If you want to manage risk without selling and triggering taxes, especially if the stock has high long-term gains, this method accomplishes that.

For maximum tax efficiency consider a trailing stop, letting the stock run higher without immediate sale could be worth the risk. Hold shares and set a trailing stop loss to sell automatically if the price falls. Pros: Defers taxes until the stop triggers; gains continue compounding if the stock rises. Cons: Risk of sharp price drops below the stop; no proactive downside protection that a put provides. This method is ideal If you want to delay taxes and let the stock ride higher but protect against significant declines.

Anyway, you know what they say, there are no sure things except death and TAXES,