Continuation Position -- ProShares UltraShort 20+ Year Treasury ETF

Upon Oct2013 options expiration last Friday, the short Put options position in ProShares UltraShort 20+ Year Treasury ETF (Ticker Symbol TBT) expired with TBT at $73.78, so 700 shares of TBT were assigned to the Covered Calls Advisor Portfolio at $74.00 per share.  Today, a covered calls position at the Nov2013 $74.00 strike price was established by selling 7 call options against the 700 TBT shares now owned.  As detailed below, this investment will provide a +4.4% absolute return for the 45 days of this investment (which is equivalent to a +35.8% annualized return) if TBT closes at or above $74.00 at options expiration on Nov 15th.

Details of this transaction along with a potential return-on-investment result are: 

ProShares UltraShort 20+ Year Treasury ETF (TBT)
The transaction is as follows:
10/02/2013 Sold 7 Oct2013 $74.00 Puts @ $1.33
Note: The price of TBT was $74.93 when this transaction was executed.
10/18/2013 Oct2013 Put options expired and 700 shares of TBT purchased at $74.00
Note: the price of TBT was $73.78 upon Oct2013 options expiration
10/21/2013 Sold 7 TBT Nov2013 Call options @ $1.98

A possible overall performance result (including commissions) for this ProShares UltraShort 20+ Year Treasury ETF position would be as follows:
100% Cash-Secured Cost Basis: $51,800.00 = $74.00*700

Net Profit:
(a) Options Income: +$2,288.60
= ($1.33+$1.98)*700 shares - 2*$14.20 commissions
(b) Dividend Income: +$0.00
(c) Capital Appreciation (If TBT remains above $74.00 at Nov2013 expiration): +$0.00
= ($74.00-$74.00)*700 shares

Total Net Profit (If TBT is above $74.00 strike price at Nov2013 options expiration): +$2,288.60 
= (+$2,288.60 +$0.00 +$0.00)

Absolute Return (If TBT closes above $74.00 at Nov2013 options expiration): +4.4%
= +$2,288.60/$51,800.00
Annualized Return: +35.8%
= (+$2,288.60/$51,800.00)*(365/45 days)