Recall the cost basis in the position is near $16.25, which appears to have been available during Monday's retreat, and the maximum available profit is achieved with the stock above $17.50.
The position as published:
Buy CCC Stock: Last Price = $18.45
The target entry price was:
Net Debit = $16.25
Now we move to the most difficult part of trading: position management. For those who are relatively new to covered-calls and/or option trading in general, there is an excellent article on this subject here:
Initially, traders should plan to exit the covered-call position if the stock moves below a level of support defined by the recent top formation (DEC-07 to JAN-08) and the 25-50 DMA; something near $16.00-$16.50, depending on your individual risk/reward criteria.
We'll talk more about specific exit methods in an upcoming narrative.