Early Assignment of Las Vegas Sands Corp.

This morning, the Covered Calls Advisor received notification from my broker (Schwab) that the 3 Las Vegas Sands Corp. (ticker symbol LVS) December 21st, 2017 Call options were exercised early, so the 300 shares of Las Vegas Sands stock in the Covered Calls Advisor Portfolio were assigned (i.e. sold) at the $50.00 strike price. 

Las Vegas Sands stock was $54.84 at yesterday's market close.  Early exercise by the owners of these Call options was not expected since there was $.19 time value [$5.03 midpoint of Call options bid/ask price - ($54.84 current stock price - $50.00 strike price)] remaining in these Call options.  But the Call owners were willing to immediately forego the remaining $0.19 per share (by exercising their option to buy the shares) in order to capture next Monday's $.75 per share ex-dividend.  The per share stock price had increased from $52.90 when this Las Vegas Sands Corp. position was originally established on November 16th to $54.84 (9.7% in-the-money) at yesterday's market close.

As detailed below, the actual return-on-investment result achieved for this Las Vegas Sands position a +3.0% absolute return (equivalent to +35.8% annualized return) for the 31 days this position was held.  The Covered Calls Advisor will retain the cash received in the Covered Calls Advisor Portfolio until a new Covered Calls position is established, the transactions details of which will be posted on this blog site the same day they occur.

Las Vegas Sands Corp. (LVS) -- New Covered Calls Position
The transactions were:
11/16/2018 Bought 300 Las Vegas Sands shares @ $52.90
11/16/2018 Sold 3 LVS 12/21/2018 $50.00 Call options @ $4.40
Note: a simultaneous buy/write transaction was executed, and the Open Interest in these Call options was 328 contracts.
12/14/2018 Early assignment of 3 Call options so 300 shares of LVS stock sold at $50.00 strike price

The overall performance result (including commissions) for this Las Vegas Sands Covered Calls position was as follows:
Covered Calls Cost Basis: $14,554.95
= ($52.90 - $4.40) *300 + $4.95 commission

Net Profit Components:
(a) Options Income: +$1,317.99
= ($4.40*300 shares) - $2.01 commissions
(b) Dividend Income: +$0.00

(c) Capital Appreciation (LVS assigned at $50.00 strike price at options expiration): -$874.95
+($50.00-$52.90)*300 shares - $4.95 commissions

Total Net Profit: +$443.04

= (+$1,317.99 Call options income +$0.00 dividend income -$874.95 capital appreciation)

Absolute Return: +3.0%

= +$443.04/$14,554.95

Annualized Return: +35.8%

= (+$443.04/$14,554.95)*(365/31 days)