The answer is yes with the help of options! While buying options can protect a stock (see here),  buying options can also lock-in a profitable position to ensure the position will never lose.

Let say we purchase Apple stock at $120 and the stock moves up to $130.

We buy a Put options by paying say $2 at $128 strike to lock-in our profitable position.
1) If Apple stock drops to $100
a) Stock – We lose $20 ($120 – $100)
b) Put Options – We profit $26 ($128 – $100 -$2)
c) Our net position –  We profit $6 ($26 – $20)

2) If Apple stock drops to $50 
a) Stock – We lose $70 ($120 – $50)
b) Put Options – We profit $76 ($128 – $50 -$2)
c) Our net position –  We profit $6 ($76 – $70)

3) If Apple stock rises to $140 
a) Stock – We profit $20 ($140 – $120)
b) Put Options – We lose $2 (Put Options OTM and become worthless, we lose our premium paid)
c) Our net position –  We profit $18 ($20 – $16)

4) If Apple stock rises to $180 
a) Stock – We profit $60 ($180 – $120)
b) Put Options – We lose $2 (Put Options OTM and become worthless, we lose our premium paid)
c) Our net position –  We profit $58 ($20 – $16)

Using options to lock-in a profitable position creates a peace of mind. 🙂