Just last week, CCI rolled up and out a covered call in C as a hedge against a long call in the financial ETF XLF.
Since then the C and the market have pulled back. Today, CCI closed the covered call in C for a $.07 debit. CCI will be looking for an opportunity to re-establish this hedge.
As of the close of business the returns related to various related positions are
This approach continues to achieving its objective of providing leveraged returns with some hedging of downside risks, but still a long way to go.