Early Assignment of Covered Calls Position in D.R. Horton Company

This morning I was notified that the two D.R. Horton Company (ticker DHI) February 9th, 2024 $136.00 Call options were exercised yesterday which is the last business day prior to their ex-dividend date on Monday.  The stock price increased from its $140.48 purchase price on January 29th to $146.89 at yesterday's market close and the original $1.05 time value in the Calls when the position was established had declined to $0.00.  So understandably, the owner of these Calls exercised their option to buy the 200 shares at the $136.00 strike price in order to receive today's $1.47 per share ex-dividend.  I am pleased for this early assignment despite losing the opportunity to capture the dividend since the +40.6% annualized-return-on-investment (aroi) achieved by early assignment is greater than the +33.2% aroi that might have been achieved if this position was instead assigned on its Feb. 9th, 2024 options expiration date.   

As detailed below, the return-on-investment result for this D.R. Horton Co. Covered Calls position was +0.8% absolute return in 7 days (equivalent to a +40.6% annualized return-on-investment).  

D.R. Horton Company (DHI) -- New Covered Calls Position
The Buy/Write transaction was as follows:
1/29/2024 Bought 200 shares of D.R. Horton Co. stock @ $140.48 per share.  
1/29/2024 Sold 2 DHI February 9th, 2024 $136.00 Call options @ $5.53 per share.  The Implied Volatility of the Calls was 27.2 when this transaction was made.
2/2/2024 D.R. Horton Call options owner exercised their two Call options, so the Covered Calls position was closed out early. The two DHI Call options expired worthless and the 200 shares were sold at the $136.00 strike price. 

The overall performance results (including commissions) are as follows:
Covered Calls Position Net Investment: $26,991.34
= ($140.48 - $5.53) * 200 shares + $1.34 commission

Net Profit Components:
(a) Options Income: +$1,106.00
= ($5.53 * 200 shares)
(b) Dividend Income (Call options exercised early on Friday, Feb. 2nd, the last business day prior to the February 5th ex-div date): +$0.00
(c) Capital Appreciation: -$896.00
+($136.00 strike price - $140.48 stock price) * 200 shares

Total Net Profit: +$210.00

= (+$1,106.00 options income +$0.00 dividend income -$896.00 capital appreciation)

Absolute Return-on-Investment: +0.8%

= +$210.00/$26,991.34

Annualized Return-on-Investment: +40.6%

= (+$210.00/$26,991.34) * (365/7 days)