Early Assignment of Covered Calls Position in Citigroup Inc.

I was notified by Schwab via email early this morning that the three Citigroup Inc. (ticker C) May 16th, 2025 Call options were exercised yesterday.  Because Citi's stock price increased from $62.11 when this position was established to $70.59 at yesterday's market close, the original $1.22 time value in the Calls when the position was established had declined on yesterday's market close to $0.00.  So, with eleven days remaining until the May 16th options expiration date, the owner of these Calls exercised their option to buy the 300 shares at the $57.50 strike price in order to receive Monday's $.56 per share ex-dividend.  Although I will not receive the ex-dividend, I am pleased with the +41.4% annualized-return-on-investment (aroi) result achieved since it exceeds the maximum +38.3% aroi that might have been achieved if this position instead remained in-the-money and would therefore be assigned on its May 16th, 2025 options expiration date.   

The post when this Citigroup Inc. Covered Calls position was originally established is here.  As detailed below, the return-on-investment result for this Citigroup Covered Calls position was +2.2% absolute return in 19 days (equivalent to a +41.4% annualized return-on-investment).

Citigroup Inc. (C) -- Covered Calls Position Closed by Early Assignment

The simultaneous buy/write transaction was:
4/16/2025 Bought 300 Citigroup Inc. shares @ $62.11.
4/16/2025 Sold 3 Citi 5/16/2025 $57.50 Call options @ $5.83 per share.
Note: Three Citigroup Inc. Calls were exercised on the last business day prior to their May 5th, 2025 ex-dividend date, so the Calls expired and the 300 Citi shares were sold at the $57.50 strike price.

The overall performance result (including commissions) for this Citigroup Inc. Covered Calls position is as follows:
Covered Calls Cost Basis: $16,886.01
= ($62.11 - $5.83) * 300 shares + $2.01 commission

Net Profit Components:
(a) Options Income: +$1,746.99
= ($5.83 * 300 shares) - $2.01 commission
(b) Dividend Income (Citi Call options exercised early on May 2nd, the last business day prior to the May 5th, 2025 ex-div date): +$0.00

(c) Capital Appreciation: -$1,383.00
+($57.50 strike price - $62.11 stock purchase price) * 300 shares

Total Net Profit (Citi Call options exercised early): +$363.99

= (+$1,746.99 options income +$0.00 dividend income - $1,383.00 capital appreciation)

Absolute Return-on-Investment: +2.2%

= +$363.99/$16,886.01

Annualized Return-on-Investment: +41.4%

= (+$363.99/$16,886.01) * (365/19 days)