PCX shocker

Trades: None

Gut Check:
In May, I decided to stop obsessively watching the stock prices and just sell covered calls several months ahead but at "safe" strike prices -- that is, with a strike price of what I bought the stocks for.

Then I stopped looking. The Covered Call for YPF is expiring soon, and now that I've looked, I discovered that PCX has plummeted to around 23 cents -- from $6 when I bought it!
Damn.

My margin account is about 1/2 of its book value.

Not sure what to do except just to wait it out and see if it will ever recover. Can't even write Covered Calls on it.

Can't write Covered Calls on CIM either since the price is low and there aren't useful premiums to get.

Mostly just sitting. Might get to write a 12 to 15 cent Covered Call on YPF early next week for the TFSA account. We'll see.

Overall I think it's been too much watching and worry and I'm going to start pulling out as well as withdrawing money when I can.