Covered Calls Position Established in Uber Technologies Inc.

Yesterday afternoon, my buy/write net debit limit order was executed and 500 shares of Uber Technologies Inc.(ticker symbol UBER) stock were purchased at $43.02 and 5 November 3rd, 2023 $42.00 Call options were sold at $2.00 per share -- a net debit of $41.02 per share.  So the potential time value profit if the stock is in-the-money and therefore closed out by assignment on the options expiration date is $.98 per share [$2.00 Call options premium - ($43.02 stock purchase price - $42.00 strike price)].    

This is a repeat of eleven similar Uber Covered Calls positions (most of which, like this one, were of about two weeks duration) during the past several months and all were profitably assigned on their respective options expiration dates.  Also like the prior Uber positions, today's new position was established at an in-the-money strike price and with an approximate probability when this position was established that the stock will be in-the-money and therefore assigned on the options expiration date of 62.7%.

As detailed below, a potential outcome for this Uber Technologies investment is +2.4% absolute return-on-investment for the next 14 days (equivalent to +61.9% annualized-return-on-investment) if the stock closes above the $42.00 strike price on the November 3rd, 2023 options expiration date.

Uber Technologies Inc. (UBER) -- New Covered Calls Position

The net debit buy/write limit order was executed as follows:
10/20/2023 Bought 500 shares of Uber Technologies Inc. stock @ $43.02 per share.  
10/20/2023 Sold 5 Uber November 3rd, 2023 $42.00 Call options @ $2.00 per share.
Note: this was a simultaneous Buy/Write transaction and the Implied Volatility of the Calls was 41.7 when this position was established which, as preferred, is well above the current VIX of 21.1.  

A possible overall performance result (including commissions) if this position is assigned on its 11/3/2023 options expiration date is follows:
Covered Calls Net Investment: $20,506.65
= ($43.02 - $2.00) * 500 shares + $3.35 commission

Net Profit Components:
(a) Options Income: +$996.65
= ($2.00 * 500 shares) - $3.35 commission
(b) Dividend Income: +$0.00
(c) Capital Appreciation (If Uber stock is above the $42.00 strike price at the November 3rd, 2023 options expiration date): -$510.00
= ($42.00 - $43.02) * 500 shares

Potential Total Net Profit (If assigned at expiration): +$486.65
= (+$996.65 options income + $0.00 dividend income - $510.00 capital appreciation)

Potential Absolute Return-on-Investment: +2.4%
= +$486.65/$20,506.65
Potential Equivalent Annualized-Return-on-Investment: +61.9%
= (+$486.65/$20,506.65) * (365/14 days)