JPMorgan Chase and Co. Position Closed

The May2017 covered calls position in JPMorgan Chase and Co. (ticker JPM) expired upon last Friday's options expiration. Today, the Covered Calls Advisor decided to sell the 400 long shares of JPM.   As detailed below, the result of this JPMorgan Chase position was a +4.4% absolute return in 61 days (equivalent to a +26.1% annualized return-on-investment).  


JPMorgan Chase and Co. (JPM) - Position Closed

The transactions are as follows:
03/23/2017 Bought 400 JPM shares @ $87.21
03/23/2017 Sold 4 JPM Apr2017 $85.00 Call options @ $3.16
Note: a simultaneous buy/write transaction was executed.
04/04/2017 Quarterly ex-dividend of $.50 per share
04/21/2017 4 JPM Call options expired
04/24/2017 Sold 4 JPM May2017 $85.00 Call options @ $2.50
Note: the price of JPM was $86.53 when these Calls were sold
05/19/2017 4 May2017 Call options expired
05/23/2017 Sold 400 JPM shares at $84.90

The overall performance result (including commissions) for this JPM covered calls position was as follows:
Stock Purchase Cost: $34,888.95
= ($87.21*400+$4.95 commission)

Net Profit:
(a) Options Income: +$2,248.90
= ($3.16 + $2.50)*400 shares - 2*$7.55 commissions

(b) Dividend Income: +$200.00
= ($.50 dividend per share x 400 shares)

(c) Capital Appreciation (JPM sold at $84.90): -$928.95
+($84.90-$87.21)*400 - $4.95 commissions

Total Net Profit: +$1,519.95

= (+$2,248.90 +$200.00 -$928.95)

Absolute Return: +4.4%

= +$1,519.95/$34,888.95

Annualized Return: +26.1%

= (+$1,519.95/$34,888.95)*(365/61 days)