Early Assignment of Two Covered Calls Positions

Early this morning, I was notified via email from my broker (Schwab) that my Covered Calls positions in Abbvie Inc. (ticker ABBV) and Sociedad Quimica Y Minera de Chile SA (SQM) were closed out by early assignment yesterday which is the day before today's ex-dividend date for both companies.  The current stock prices were both deep-in-the-money and there was very little time value remaining in the Call options, so with eight days remaining until the July 21st options expiration date for both positions, the Call owners decided to exercise their Calls early so they will capture today's ex-dividend.  So the Calls expired worthless and the stocks were sold at their respective strike prices with the following results:

1. Abbvie Inc. (ABBV) -- I had owned 200 ABBV shares and sold two July 21st, 2023 $132.00 Calls and today's ex-dividend amount is $1.48 per share.  This position achieved +0.3% absolute return (equivalent to +40.1% annualized return-on-investment) for the 3 days of this investment.  The original blog post details when this position was established are here. 

2. Sociedad Quimica Y Minera de Chile SA (SQM) -- I had owned 300 SQM shares and sold three July 21st, 2023 $70.00 Calls and today's ex-dividend amount is $.7876 per share.  This position achieved +0.9% absolute return (equivalent to +44.6% annualized return-on-investment) for the 7 days of this investment.  The original blog post details when this position was established are here.

New positions will be established in my Covered Calls Advisor Portfolio in the upcoming week.  Details of each position will be published on this blog on the same day the transactions occur.  I welcome your questions or feedback at the email address below on any topics related to the Covered Calls investing strategy.  

Best Wishes and Godspeed,

Jeff Partlow
The Covered Calls Advisor
partlow@cox.net