Established Covered Calls Position in Halliburton Co.

Yesterday, a Covered Calls position has been established in Halliburton Co. (ticker HAL) at the $45.00 strike price and for the July 20th, 2018 options expiration date.  This position is slightly out-of-the-money since the 400 shares of HAL stock was purchased at $44.82 (just below the $45.00 strike price).

As detailed below, two potential return-on-investment results are:

+1.5% absolute return in 9 days (equivalent to a +59.7% annualized return-on-investment) if the price of HAL is unchanged upon the July 20th options expiration; OR

+1.9% absolute return in 9 days (equivalent to a +75.0% annualized return-on-investment) if the price of HAL increases above the $45.00 strike price on the expiration date 

Halliburton Co. (HAL) -- New Covered Calls Position

The transactions were as follows:
07/12/2018 Bought 400 shares of Halliburton Co. @ $44.82 
07/12/2018 Sold 4 HAL July 20th, 2018 $45.00 Call options @ $.65 per share
Note: this was a simultaneous Buy/Write transaction and the Implied Volatility of these Call options was 24.0 

Two possible overall performance result (including commissions) would be as follows:
Covered Calls Cost Basis: $17,675.63
= ($44.82 - $.65)* 400 shares + $7.63 commission

Net Profit Components:
(a) Options Income: +$260.00
= ($.65* 400 shares)
(b) Dividend Income: +$0.00
(c) Capital Appreciation (If HAL is unchanged at $44.82 purchase price at July 20th expiration): +$0.00
= ($44.82 -$44.82)* 400 shares; OR
(c) Capital Appreciation (If HAL is above $45.00 strike price at Jul 20th expiration): +$67.05
= ($45.00 -$44.82)* 400 shares - $4.95 commission

(a) Total Net Profit (If HAL price unchanged at $44.82 at expiration): +$260.00
= (+$260.00 options income +$0.00 dividend income -$0.00 capital appreciation); OR
(b) Total Net Profit (If HAL shares assigned at expiration): +$327.05
= (+$260.00 options income +$0.00 dividend income +$67.05 capital appreciation)

(a) Absolute Return (If HAL price unchanged at expiration): +1.5%
= +$260.00/$17,675.63
Equivalent Annualized Return: +59.7%
= (+$260.00/$17,675.63)*(365/9 days); OR
(b) Absolute Return (If HAL shares assigned at expiration): +1.9%
= +$327.05/$17,675.63
Equivalent Annualized Return: +75.0%
= (+$327.05/$17,675.63)*(365/9 days)

The downside 'breakeven price' at expiration is at $44.17 ($44.82 price per share - $.65 options income), which is 1.5% below the current market price of $44.82.