Depends what your goals are here. I would personally take some profit, it doesn’t have to be all or none.advise requested:
I have 4000 shares, an on Friday 4/19 I sold 40x (does x mean "contracts" in this forum?) $143 covered call for $9.2, hoping that at least if the SP goes to $139 I am still break even, or above $143 and it is still equivalent to selling at $152.
However, during the weekend the $2000/14000 RMB price cut news is considered negative, and today SP closed at $142.
That is way more fast than I expected. And even in this forum people are saying $130 is coming, $120 is coming.
Should I stick to my original plan or just close CC and sell everything?
If you want downside protection, long puts would be more profitable than calls without giving up upside on the shares. You just have to pay for them, instead of getting paid to sell covered calls.