Covered Calls Position Closed in Molson Coors Brewing

Today was the options expiration date for my Molson Coors Brewing (TAP) Covered Calls position. Today I decided to close out (i.e. unwind) this position.  Since establishing the position a little more than a month ago, the stock price has declined by 9.8% (from $56.4295 to $50.89).  Given the recently evolving softness in consumer discretionary spending, I decided to go ahead and realize my current loss in order to free up some capital to establish a new position in a company that I am now more bullish on.  So late in this afternoon's session, I sold-to-close the 400 Molson Coors shares at $50.89 and simultaneously bought-to-close the 4 June 21st, 2024 $55.00 Calls at $.01 per share -- a net credit for this transaction of $50.88 per share. Simply stated, I now believe this is one of those situations where, in my judgment, it is better to accept a loss and move on to another company rather than continuing to tie up my capital by rolling out this position in an attempt to repair the return-on-investment results back toward breakeven.

Molson Coors Beverage Company (TAP) -- Closed Out Covered Calls Position
The buy/write transaction was:
5/17/2024 Bought 400 Molson Coors Beverage Company shares @ $56.4295.
5/17/2024 Sold 4 TAP 6/21/2024 $55.00 Call options @ $2.11 per share.
6/6/2024 Ex-dividend of $.44 per share.

6/21/2024 Unwound this Covered Calls position by selling-to-close the 400 shares of Molson Coors stock and simultaneously buying-to-close the 4 TAP $55.00 Calls that expire today at a net credit of $50.88 per share.

The overall performance results (including commission) for this Covered Calls position are as follows:
Covered Calls Net Investment: $21,730.48
= ($56.4295 - $2.11) * 400 shares + $2.68 commission

Net Profit Components:
(a) Options Income: +$837.32
= ($2.11 - $.01) * 400 shares) - $2.68 commission
(b) Dividend Income: $176.00

= ($.44 per share x 400 shares)
(c) Capital Appreciation (400 TAP shares sold at $50.89): -$2,215.80
+($50.89 stock sales price - $56.4295 stock purchase price) * 400 shares

Total Net Loss: -$1,202.48

= (+$837.32 options income +$176.00 dividend income -$2,215.80 capital appreciation)

Absolute Return-on-Investment: -5.5%

= -$1,202.48/$21,730.48

Annualized Return-on-Investment: -57.7%

= (-$1,202.48/$21,730.48) * (365/35 days)