Cisco reported good earnings late last week. Surprisingly to me it shot up from $14 to $16 like a rocket.
Looks like that $15 covered call with high volatility was not the right play as there would have been lots of better exits than that call. CCI let one lot of stock get called away via this call. This lot lost nearly 4%. The market was down about 8% during the same period, and good thing we sold the $15 calls vs just selling last week or it would have been much worse. (how's that for a nice rationalization?...lol).
CCI bought back the other lot of last Friday's calls late Friday. Hence I'm still long one lot of $17 Jan calls. Will be looking for a little better price to sell this lot and exit that trade as it still seems the the market pullback means there are better places to deploy this capital.