The good news is that I bought in at about this level and sold the March $12.50 call for about a 6% premium. I would not be unhappy at all if the stock stayed below $12.50 until expiration and I was able sell another call. I had better be careful for what I wish for!
Actually, I expect the stock will rise back above the strike price before expiration. GIGM appears to be a company going somewhere.