once meant "knuckle of meat", but now means "forget about it", "don't even try", "give up", "don't start"
"chuck it", "throw it in the trash", "throw/toss it away"
(possible use as "sucks to be you", sympathetically)
You think you'll get a perfect 4.0 with a D on two of your tests this term? Hock it!
You can't walk around with a note from your ex in your textbook! Hock it, you broke up a month ago!
(possible: You got fired again! Hock it, life sucks!)