Closed Out Covered Calls Position in Oracle Corporation

I decided to unwind (i.e. close out) my Covered Calls position in Oracle Corporation (ticker ORCL) with 10 minutes remaining in the trading day yesterday (Friday, 10/11/2024).  The position was established on September 24th and the stock price had increased from its $165.29 purchase price to $176.03 shortly before market close yesterday (Friday).  In addition, its $.40 ex-dividend occurred on the prior day (Thursday) so this dividend capture is included in the return-on-investment calculations detailed below.  

The original $1.71 time value in the Call options had declined to only $.20, so with one week remaining until the October 18th options expiration date, I decided to unwind the position.  The +25.7% annualized return-on-investment (aroi) achieved was greater than the +20.2% aroi that would be achieved if the position would instead have closed in-the-money and therefore be assigned at next Friday's options expiration date. 

Oracle Corporation (ORCL) -- Covered Calls Position Closed Out Early

The buy/write transaction was:
9/24/2024 Bought 200 Oracle Corporation shares @ $165.29
9/24/2024 Sold 2 ORCL 10/18/2024 $160.00 Call options @ $7.00 per share.  The Implied Volatility of these Calls was 19.7 when this position was established.
10/10/2024 Quarterly ex-dividend of $.40 per share.
10/11/2024 Unwound this Oracle Covered Calls position by simultaneously buying-to-close the two 10/18/2024 $160.00 Call options at $16.23 per share and selling the 200 Oracle shares at $176.03, for a net credit of $159.80 (only $.20 remaining time value).

The overall performance results (including commissions) are as follows:
Covered Calls Net Investment: $31,659.34
= ($165.29 - $7.00) * 200 shares + $1.34 commission

Net Profit Components:
(a) Options Income: -$1,848.68
= ($7.00 - $16.23) * 200 shares) - $2.68 commissions
(b) Dividend Income: +$80.00
= $.40 per share x 200 shares
(c) Capital Appreciation (Oracle shares sold at $176.03 per share): +$2,148.00
= ($176.03 stock selling price -$165.29 stock purchase price) * 200 shares

Net Profit: +$379.32
= (-$1,848.68 options income +$80.00 dividend income + $2,148.00 capital appreciation)

Absolute Return-on-Investment: +1.2%
= +$379.32/$31,659.34
Equivalent Annualized Return-on-Investment: +25.7%
= (+$379.32/$31,659.34) * (365/17 days)