Early Assignment of Covered Calls Position in Dell Technologies Inc.

I was notified by Schwab early this morning that the three Dell Technologies Inc. November 1st, 2024 Call options were exercised yesterday.  Because the Dell stock price increased from $118.56 when this position was established to $125.66 at yesterday's market close, the original $2.20 time value in the Calls when the position was established had declined on yesterday's market close to $0.86.  So, with ten days remaining until the November 1st options expiration date, the owner of these Calls exercised their option to buy the 300 shares at the $110.00 strike price in order to receive today's $.445 per share ex-dividend. 

I was surprised that the owner of the Calls exercised their option in this instance since they decided to immediately forego $.86 time value profit potential (which I am pleased to have received as an immediate profit addition to my return-on-investment result for this position). I am also pleased with the +49.5% annualized-return-on-investment (aroi) result achieved today by early assignment since it exceeds the maximum +35.7% aroi that might have been achieved if this position instead remained in-the-money and would therefore be assigned on its November 1st, 2024 options expiration date.   

The post when this Dell Technologies Inc. Covered Calls position was originally established is here.  As detailed below, the return-on-investment result for this Dell Covered Calls position was +2.0% absolute return in 15 days (equivalent to a +49.5% annualized return-on-investment).

Dell Technologies Inc. (DELL) -- Covered Calls Position Closed Out by Early Assignment
The simultaneous buy/write transaction was:
10/7/2024 Bought 300 Dell Technologies Inc. shares @ $118.56.
10/7/2024 Sold 3 DELL 11/01/2024 $110.00 Call options @ $10.76 per share.
Note: the Implied Volatility of the Call options was 43.2 when this position was established.
10/22/2024 Three Dell Technologies Calls were exercised on the day prior to their October 22nd, 2024 ex-dividend date, so the Calls expired and the 300 Dell shares were sold at the $110.00 strike price.

Two possible overall performance results (including commissions) for this Dell Technologies Inc. Covered Calls position are as follows:
Covered Calls Cost Basis: $32,342.01
= ($118.56 - $10.76) * 300 shares + $2.01 commission

Net Profit Components:
(a) Options Income: +$3,225.99
= ($10.76 * 300 shares) - $2.01 commission
(b) Dividend Income (Dell options exercised early on Oct. 21st, the business day prior to the Oct. 22nd, 2024 ex-div date): +$0.00

(c) Capital Appreciation (Dell Call options assigned early on October 22nd): -$2,568.00
+($110.00 - $118.56) * 300 shares

Total Net Profit: +$657.99

= (+$3,225.99 options income +$0.00 dividend income -$2,568.00 capital appreciation)

Absolute Return-on-Investment: +2.0%

= +$657.99/$32,342.01

Annualized Return-on-Investment: +49.5%

= (+$657.99/$32,342.01) * (365/15 days)