Covered Calls Position Closed for Halozyme Therapeutics Inc.

Last Friday, the Covered Calls position in Halozyme Therapeutics Inc. (ticker HALO) expired out-of-the-money since the closing stock price Friday of $38.55 was below the $40.00 strike price.  Halozyme's stock price increased in early trading today and I decided to close out the position by selling the 400 HALO shares at $39.28.  The resulting return-on-investment results are detailed below.  These results show that attractive results are achievable with in-the-money Covered Calls positions even when the stock price has declined below the original stock purchase price. 

Halozyme Therapeutics Inc. (HALO) -- Covered Calls Position Closed Out by Decision

The net debit buy/write limit order was executed as follows:

8/25/2023 Bought 400 shares of Halozyme Therapeutics stock @ $42.62 per share.  
8/25/2023 Sold 4 HALO September 15th, 2023 $40.00 Call options @ $3.36 per share.
Note: the Implied Volatility of the Calls was 38.8 when this position was established. 

9/15/2023 Continued this Halozyme Covered Calls position by selling 4 HALO October 20th, 2023 Call options at the $40.00 strike price for $2.00 per share.  The Halozyme share price was $40.22 when these Calls were sold and their Implied Volatility was 37.6.
10/20/2023 Four Calls expired out-of-the-money with the stock price below the $40.00 strike price, so 400 HALO shares remain in the Covered Calls Advisor Portfolio.

11/7/2023 Continued this Halozyme Covered Calls position by selling 4 HALO December 15th, 2023 Call options at the $40.00 strike price for $1.72 per share.  The Halozyme share price was $39.14 when these Calls were sold and their Implied Volatility was 41.0.

12/15/2023 4 HALO $40.00 Call options expired out-of-the-money and the 400 Halozyme shares remained in the Covered Calls Advisor Portfolio. 

12/19/2023 This Halozyme Covered Calls position was closed out by selling 400 shares at $39.28 per share.

The overall performance result (including commissions) if this position is as follows:
Halozyme Covered Calls Net Investment: $15,706.68
= ($42.62 - $3.36) * 400 shares + $2.68 commission

Net Profit Components:
(a) Options Income: +$2,823.96
= ($3.36 + $2.00 + $1.72) * 400 shares - $8.04 commission
(b) Dividend Income: +$0.00
(c) Capital Appreciation (Halozyme stock sold at $39.28 per share): -$1,336.00
= ($39.28 - $42.62) * 400 shares

Potential Total Net Profit (If assigned at expiration): +$1,487.96
= (+$2,823.96 options income + $0.00 dividend income - $1,336.00 capital appreciation)

Absolute Return-on-Investment: +9.5%
= +$1,487.96/$15,706.68
Equivalent Annualized-Return-on-Investment: +29.8%
= (+$1,487.96/$15,706.68) * (365/116 days)