This morning, the Covered Calls Advisor decided to close out the Energy Select Sector SPDR Fund ETF (ticker XLE) Covered Calls position. Since this position was established 20 days ago, the price of XLE has declined substantially which mirrors the recent decline in the price of WTI Crude Oil which this morning traded below $97. A primary reason attributed to this recent steep price decline is global recession fears which would cause significant oil demand destruction. In addition in the U.S., we have just passed the July 4th holiday which normally is the peak driving period.
The details of this position and the negative return-on-investment results are as follows:
Energy Select Sector SPDR Fund ETF (XLE) -- Covered Calls Position Closed 
The buy/write transaction today was as follows:
6/16/2022 Bought 300 Energy Select Sector SPDR Fund ETF shares @ $78.62 per share
6/16/2022 Sold 3 XLE 7/01/2022 $75.00 Call option @ $4.71 per share
6/21/2022 Upcoming quarterly ex-distribution estimated at $.71 per share
7/1/2022 XLE Calls expired out-of-the-money and 300 shares remain in the Covered Calls Advisor Portfolio.
7/6/2022 Sold 300 XLE Shares @ $68.78 per share to close out this position.
The overall performance results (including commissions) for this Energy Select Sector SPDR Fund ETF Covered Call position are as follows:
Covered Call Cost Basis: $22,175.01
= ($78.62 - $4.71) * 300 shares + $2.01 commissions
Net Profit Components:
(a) Options Income: +$1,410.99
= ($4.71 * 300 shares) - $2.01 commissions
(b) Dividend Income: +$213.00
= ($.71 dividend per share x 300 shares)
(c) Capital Appreciation (300 XLE shares sold on July 6th, 2022 at $68.78 per share): -$3,252.00
+($67.78 selling price - $78.62 purchase price) * 300 shares
