Closed Covered Calls Positions in Aptiv Corporation and Freeport-McMoran Inc.

Last Friday, the Covered Calls positions in Aptiv Corporation (ticker APTV) and Freeport-McMoran Inc. (ticker FCX) expired out-of-the-money since their closing stock prices last Friday were below their respective strike prices. This morning soon after the market opened, I closed out both positions by selling 300 shares of Aptiv at $81.77 per share and 500 shares of Freeport-McMoran at $38.30 per share. The resulting return-on-investment results for both positions are detailed below.

1.  Aptiv PLC (APTV) -- Covered Calls Position Closed Out 

The net debit buy/write limit order was executed as follows:
1/5/2024 Bought 300 shares of Aptiv stock @ $83.80 per share.  
1/5/2024 Sold 3 Aptiv January 19th, 2024 $80.00 Call options @ $4.64 per share.
1/19/2024 Three APTV Calls closed below the $80.00 strike price @ $79.00 per share, so the 3 APTV Call options expired and 300 Aptiv shares remained in the Covered Calls Advisor Portfolio.
1/23/2024 Closed out this Aptiv Covered Calls position by selling 300 shares @ $81.77 per share.  

The overall performance result (including commissions) is as follows:
Covered Calls Net Investment: $23,750.01
= ($83.80 - $4.64) * 300 shares + $2.01 commission

Net Profit Components:
(a) Options Income: +$1,389.99
= ($4.64 * 300 shares) - $2.01 commission
(b) Dividend Income: +$0.00
(c) Capital Appreciation: -$609.00
= ($81.77 stock selling price - $83.80 original stock purchase price) x 300 shares

Total Net Profit: +$780.99
= (+$1,389.99 options income + $0.00 dividend income - $609.00 capital appreciation)

Absolute Return-on-Investment: +3.3%
= +$780.99/$23,750.01
Equivalent Annualized-Return-on-Investment: +66.7%
= (+$780.99/$23,750.01) * (365/18 days)

2.  Freeport-McMoran Inc. (FCX) -- Covered Calls Position Closed Out
The simultaneous buy/write transactions was as follows:
1/4/2024 Bought 500 shares of FCX stock @ $41.02 per share.  
1/4/2024 Sold 5 FCX January 19th, 2024 $39.50 Call options @ $1.94 per share.
1/11/2024 Upcoming ex-dividend at $.15 per share
1/19/2024 Five FCX Calls closed below the $39.50 strike price @ $38.77 per share, so the 5 FCX Call options expired and 500 Freeport-McMoran shares remained in the Covered Calls Advisor Portfolio.
1/23/2024 Closed out this Freeport Covered Calls position by selling 500 shares @ $38.30 per share.  This position was closed out to avoid the stock price volatility that often accompanies quarterly earnings releases.  Tomorrow is Freeport's earnings report. 

The overall performance results (including commissions) is as follows:
Covered Calls Net Investment: $19,543.35
= ($41.02 - $1.94) * 500 shares + $3.35 commission

Net Profit Components:
(a) Options Income: +$966.65
= ($1.94 * 500 shares) - $3.35 commission
(b) Dividend Income: +$75.00
= $.15 dividend per share x 500 shares
(c) Capital Appreciation (Freeport stock sold at $38.30 per share): -$1,360.00
= ($38.30 - $41.02) * 500 shares

Total Net Profit:  -$318.35
= (+$966.65 options income +$0.00 dividend income - $760.00 capital appreciation)

Absolute Return-on-Investment:  -1.6%
= -$318.35/$19,543.35
Equivalent Annualized Return-on-Investment: -31.3%
= (-$318.35/$19,543.35) * (365/19 days)