Closed Covered Calls Position in JPMorgan Chase & Co.

Last Thursday, a Covered Calls position was established in JPMorgan Chase & Co. (JPM) with an October 15th, 2021 options expiration date. Today, JPM went ex-dividend at $1.00 per share so the Covered Calls Advisor Portfolio captured this dividend. In addition, JPMorgan's stock price has increased from a purchase price of $165.29 to $170.04 today when I decided to close the Covered Calls position via an unwind transaction of Selling-to-Close the 200 shares @ $170.04 and simultaneously Buying-to-Close two October 15th, 2021 $160.00 Call options @ $10.84 per share. Since the Covered Calls Advisor prefers to avoid holding positions on quarterly earnings reporting dates and JPM's next report is on October 13th which is prior to the October 15th options expiration date, I decided to close out the position today at an annualized return-on-investment (aroi) of +66.5% rather than waiting for a potential maximum aroi of +32.4% if the position were to instead be assigned on the Oct. 15th options expiration date.

The details of today's results are as follows:

JPMorgan Chase & Co. (JPM) -- Covered Calls Position Closed

The original JPMorgan buy/write transaction was as follows:
9/30/2021 Bought 200 shares of JPMorgan Chase & Co. @ $170.04 per share 
9/30/2021 Sold 2 JPM Oct. 15th, 2021 $160.00 Call options @ $10.84 per share
10/05/2021 Ex-dividend of $1.00 per share
10/05/2021 Unwound the JPM Covered Calls position by simultaneously selling-to-close 200 JPM shares at $170.04 per share and buying-to-close 2 JPM Oct. 15th $160.00 Calls @ $10.84 per share.

The overall performance results (including commissions) for this JPM Covered Calls position was as follows:
Stock Purchase Cost: $31,749.34
= ($165.29 - $6.55) *200 shares + $1.34 commission

Net Profit:
(a) Options Income: -$860.68
= ($6.55 -$10.84) *200 shares - $2.68 commission
(b) Dividend Income: +$200.00
= ($1.00 dividend per share x 200 shares)
(c) Capital Appreciation (Sold-to-Close 200 JPM shares at $170.04 per share): +$950.00
+($170.04 -$165.29) * 200 shares

Total Net Profit: +$289.32

= (-$860.68 options income +$200.00 dividend income +$950.00 capital appreciation)
 

Absolute Return-on-Investment: +0.9%

= +$289.32/$31,749.34

Annualized Return-on-Investment: +66.5%

= (+$289.32/$31,749.34)*(365/5 days)