Established Covered Calls Position in iShares China Large-Cap ETF

A short-term Covered Calls position was established in iShares China Large-Cap ETF (ticker FXI) with a July 15th, 2022 options expiration date.   Five hundred shares of iShares China Large-Cap ETF were purchased at $33.21 and five 7/15/2022 Call options were sold at the $32.00 strike price at $1.62 per share--a net debit transaction of $31.59 per share which provides a $.41 per share time value. The Implied Volatility of these Calls was 39.4 and the Delta was 71.7 when this transaction was executed.

As detailed below, a potential return-on-investment result is +1.3% absolute return (equivalent to +42.4% annualized return for the next 11 days) if the stock price is in-the-money (i.e. above the $32.00 strike price) and therefore assigned on the July 15th options expiration date.

 
iShares China Large-Cap ETF (FXI) -- New Covered Calls Position 
The Buy/Write transaction was as follows:
7/5/2022 Bought 500 shares of iShares China Large-Cap ETF shares @ $33.21 per share 
7/5/2022 Sold 5 FXI July 15th, 2022 $32.00 Call options @ $1.62 per share

A possible overall performance result (including commissions) for this iShares China Large-Cap ETF Covered Calls position is as follows:
Stock Purchase Cost: $15,798.35
= ($33.21 - $1.62) * 500 shares + $3.35 commission

Net Profit:
(a) Options Income: +$806.65
= ($1.62 * 500 shares) - $3.35 commission
(b) Dividend Income: +$0.00
(c) Capital Appreciation (If 500 iShares China Large-Cap ETF shares assigned at $32.00 strike price at expiration): -$605.00
+($32.00 - $33.21) * 500 shares

Total Net Profit (If 500 iShares China Large-Cap ETF shares assigned at $32.00 strike price at expiration): +$201.65
= (+$806.65 options income +$0.00 dividend income -$605.00 capital appreciation)

Absolute Return-on-Investment: +1.3%
= +$201.65/$15,798.35
Annualized Return-on-Investment: +42.4%
= (+$201.65/$15,798.35) * (365/11 days)