Cummins Inc. Position Closed

The Nov2015 covered calls position in Cummins Inc.(ticker CMI) expired upon last Friday's options expiration. Of the seven positions in the Covered Calls Advisor Portfolio with Nov2015 expirations, Cummins was the only one that expired out-of-the-money. Today, the Covered Calls Advisor decided to sell the 200 long shares of CMI. The results of these transactions are detailed below.

1. Cummins Inc. (CMI)- Position Closed
11/09/2015 Bought 200 CMI shares @ $103.97
11/09/2015 Sold 2 CMI Nov2015 $102.00 Call options @ $3.12
11/18/2015 Ex-dividend of $.975 per share
11/20/2015 2 CMI Nov2015 $102 Call options expired
Note: price of CMI was $98.70 upon Nov2015 options expiration
11/23/2015 Sold 200 CMI shares @ $99.27

The overall performance result (including commissions) for this Cummins (CMI) covered calls position was as follows:
Stock Purchase Cost: $20,802.95
= ($103.97*200+$8.95 commission)

Net Profit:
(a) Options Income: +$613.55
= ($3.12*200 shares) - $10.45 commissions

(b) Dividend Income: +$195.00
= ($.975 dividend per share x 200 shares)

(c) Capital Appreciation (Stock sold at $99.27): -$948.95
+($99.27 - $103.97)*200 - $8.95 commissions

Total Net Profit: -$140.40

= (+$613.55 +$195.00 -$948.95)

Absolute Return (If stock assigned at $102.00 at Nov2015 expiration): -0.7%

= -$140.40/$20,802.95

Annualized Return (If stock assigned): -17.6%

= (-$140.40/$20,802.95)*(365/14 days)