I wanted to learn about bonds so I bought a rather risky one (Chesapeake Ene Corp SR NT 6.62% 08/15/2020 / 165167CF2). Since purchase, the price of the bond has risen 72.81% for a gain of $257.02 as of this post. I originally planned on holding the bond until maturity to get the full bond experience but now I'm unsure.
The gain on the bond is now approaching a value greater than the remaining coupon payments, 6.62% annually x 4 years until maturity = $264.80 in coupon payments.
I feel like I'm missing something here, but it seems like a no-brainer to me considering the risk of the bond. If a bond's gain is greater than the remaining coupon payments does it mark a time to sell?