Everyone is going to have their own trading style and risk tolerance. It's important to find what works for you.
My personal take....I hate locking in a loss. But I also hate tying up capital on something that isn't producing. Maybe the question to ask yourself is....Would you buy that stock right now? Because every day you hold it you are basically buying it again. I like to buy into weakness....so maybe if the stock is on its ass it might be a good time to buy. Or can the capital be used on something that has better potential than that one? These are some of the questions that one might use to come to the best decision for them.

The probability of it breaking one way or the other is going to mean different things to different people. Those who trade on technical or fundamental analysis may arrive at some assumption based on historical data. However the options pricing models are forward looking and based on partly on Brownian motion....means they give it a 50/50 shot.

As you gain experience you will find what works for you.

If I woke up tomorrow owning shares of a stock that had me at a loss (assuming I had at least 100 shares and it had options available) I would check the option premium for at the money calls and if there was a fair market and enough premium I would sell and roll them until I got my damn money back. If not I would base my decision on whether or not I thought the stock was a good buy at that level.

You might include the ticker and price you paid....might get more opinions then.