Continuation of Covered Calls Position in Alphabet Inc.

The Covered Calls Advisor Portfolio has a Covered Calls position in Alphabet Inc. (ticker GOOGL) which expired last Friday with the stock at $154.33 which was below the $155.00 strike price.  Today this position was continued by rolling down to the April 17th, 2025 monthly options expiration at the $150.00 strike price by selling-to-open two Calls at $7.00 per share when the price of Alphabet's stock was $153.75.  

As detailed below, a potential outcome for this Alphabet investment if the stock is in-the-money and therefore assigned on the options expiration date is +2.6% absolute return-on-investment over 34 days (equivalent to +28.4% annualized-return-on-investment) if the stock closes above the $150.00 strike price on the 4/17/2025 options expiration date.   This position demonstrates that if the stock price remains in-the-money on the 4/17/2025 options expiration date, the Alphabet shares will be sold at the $150.00 strike price which is a substantial 7.7% decline below the original stock purchase price.  However, by selling short-term in-the-money strike prices, the Calls premium income received would exceed the 7.7% stock price decline so that a net annualized positive return-on-investment of +28.4% would still be achieved.  The details showing this potential return-on-investment result are as follows:

Alphabet Inc. (GOOGL): Continuation of the Covered Calls Position

The simultaneous buy/write transaction was as follows:
3/14/2025 Bought 200 shares of Alphabet Inc. stock @ $162.51 per share.  
3/14/2025 Sold 2 Alphabet Inc. March 28th, 2025 $155.00 Call options @ $9.57 per share.
3/28/2025 Alphabet stock price was below the $155.00 strike price, so the Calls expired and the 200 Alphabet shares remained in the Covered Calls Advisor Portfolio. 

3/31/2025 Continued this Alphabet Covered Calls position by selling two April 17th, 2025 $150.00 Call options @ $7.00 per share when the stock was trading today at $153.75.  

Note: The Implied Volatility of the Call options was 36.1 when this transaction was executed which, as I prefer, is well above the current 22.7 of the S&P 500 Volatility Index (i.e. VIX). 

A possible overall performance result (including commissions) would be as follows:
Covered Calls Cost Basis: $30,589.34
= ($162.51 - $9.57) * 200 shares + $1.34 commission

Net Profit Components:
(a) Options Income: +$3,311.32
= ($9.57 + $7.00) * 200 shares - $2.68
(b) Dividend Income: +$0.00 
(c) Capital Appreciation (If Alphabet stock is above $150.00 strike price at the 4/17/2025 options expiration date): -$2,502.00
= ($150.00 strike price - $162.51 stock purchase price) * 200 shares

Total Net Profit Potential: +$809.32
= (+$3,311.32 options income + $0.00 dividend income - $2,502.00 capital appreciation)

Potential Absolute Return-on-Investment: +2.6%
= +$809.32/$30,589.34
Potential Equivalent Annualized Return-on-Investment: +28.4%
= (+$809.32/$30,589.34) * (365/34 days)