We started to cut losses on certain call warranty as we think the recovery time will be later of the year. Most of the call warranty we are holding was funded by our early December 15 profit also on call warrant.
To protect our capital we are selectively selling off. Probably the only call warrant that we are facing issue is CIMB-C7. As one of its major share holder continuous reduce its holding. We may need to wait for Feb 16 OPEC urgent meeting for an opportunity to cut loss.
We sold FBM-KLCI C4 and Maybank-C11 today at both 0.05 and 0.035. We used the fund from selling switched to OSK-WC at 0.285.