Covered call cover

My covered calls on Thornburg Mortgage and Gigamedia have good well into the money. To maintain my positions in the stocks I have bought calls on these stocks.

For Thornburg I think the stock should have a significant rise in the next couple of weeks. I have previously sold the Sept $12.50 call. Last week I purchased 2 October $12.50 calls. I have sold one for a profit and the other will replace the stock if it is called away next week.

For Gigamedia I sold the Oct $15 call when it was trading in the $13 range. It is now above the strike price so I bought the Oct $12.50 call. The $15 call has a significantly higher time premium, so I lock in a $.50 profit and keep the stock if it closes above the $15 strike.

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