Continuation -- Citigroup Inc. Covered Calls

Upon Apr2013 options expiration, the 100% cash-secured puts position in Citigroup Inc. (Ticker Symbol C) expired with the stock closing at $48.22 which was below the $49.00 strike price.  So, 700 shares of Citigroup were assigned to the Covered Calls Advisor Portfolio.  Today, a covered calls position was established at the $49.00 strike price by selling 7 May2014 $49.00 call options.  As detailed below, this investment will provide an overall +3.0% absolute return in 54 days (which is equivalent to a +20.3% annualized return) if the stock closes at or above the $49.00 strike price at options expiration on May 16th.
The details of the associated transactions and a potential return-on-investment result are as follows:

1. Citigroup Inc. (C)
The transactions are as follows:

3/24/2014 Sold 7 Apr2014 $49.00 Puts @ $.89

Note: The price of Citi was $50.03 when this transaction was executed.
4/19/2014 Seven Citigroup Put options expired
Note: The price of Citi was $48.22 upon Apr2014 options expiration
4/22/2014 Sold 7 Citigroup May2014 $49.00 call options at $.62 to establish a covered calls position
Note: The price of Citi was $48.28 when these Call options were sold

Two possible overall performance results (including commissions) would be as follows:

100% Cash-Secured Cost Basis: $34,300.00
= $49.00*700

Net Profit:

(a) Options Income: +$1,028.60

= ($.89 + $.62)*700 shares - 2*$14.20 commissions

(b) Dividend Income: +$0.00

(c) Capital Appreciation (If C remains unchanged at current price of $48.28 upon May2014 expiration): -$504.00

= ($48.28-$49.00)*700 shares; OR
(c) Capital Appreciation (If C closes above the $49.00 strike price at May2014 options expiration): $0.00
= ($49.00-$49.00)*700 shares

Total Net Profit (If Citi remains unchanged at current $48.28 price upon May2014 expiration): +$524.60 

= (+$1,028.60 +$0.00 -$504.00)

Total Net Profit (If Citi is above $49.00 strike price at May2014 options expiration): +$1,028.60 

= (+$1,028.60 +$0.00 +$0.00)

1.  If Citi remains unchanged at current $48.28 stock price upon May2014 options expiration:
Absolute Return: +1.5%
= +$524.60/$34,300.00
Equivalent Annualized Return: +10.3%
= (+$524.60/$34,300.00)*(365/54 days)

2. If Citi closes above $49.00 strike price upon May2014 options expiration:
Absolute Return: +3.0%
= +$1,028.60/$34,300.00
Equivalent Annualized Return: +20.3%
= (+$1,028.60/$34,300.00)*(365/54 days)