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In my previous post, I reported some defensive moves needed because the market condition was working against all my five covered call positions.
Today is Monday after expiry. My positions are still intact, having rolled over my short call CHT position and my Short put RCII to avoid being exercised.
I was keeping an eye on the market and found my Yamana Gold Inc (AUY) was still losing ground because of falling gold price and investors were taking profits. I am not that disturbed by this setback yet because I am confident that the price of gold will eventually stand firm even if at $1000 mark.
Current retrenchment did cause a bit of inconvenience though because share price of AUY fell from over $14 to the current value of around $11.20. Right now I needed a reasonable premium to short the AUY January $14 call which is not on offer. It is still possible to sell the February $14 call for about $0.15 gross. Even that might be withdrawn if AUY retreat continues. I will stand firm and wait and see. It is part of excitement of investing using the covered call option strategy.
My EWC position is in a similar situation of AUY. I am ready to sell the January EWC $17 call for premium but not worth it unless I am willing to sell the February $17 call. I am also taking the stand of wait and see with EWC! Never know, the market may turn in the next few days?

On a happier note, I was able to sell the CHT January $17.5 put for $0.20 today and reduced the overall cost of my CHT position to about $0.46 net per share.