Closed Covered Calls Position in Global Payments Inc.

On last Friday's options expiration date, the Covered Calls position in Global Payments Inc.  (ticker GPN) closed out-of-the-money, so its Call options expired and the 400 shares remained in the Covered Calls Advisor Portfolio. Early in today's trading session I closed out this position at a net loss of $1,193.32 by selling the 400 shares of Global Payments at $70.28 which was below the original $75.00 strike price.  Along with other financial services companies, Global Payment's stock price has been punished since the start of the Iran War. The transactions history for this position and the associated return-on-investment results are detailed below.

Global Payments Inc. (GPN) -- Closed Out Covered Calls Position

The buy/write transaction was:
2/24/2026 Bought 400 Global Payments Inc. shares @ $78.63.
2/24/2026 Sold 4 GPN 3/20/2026 $75.00 Call options @ $5.11 per share.  The Implied Volatility of these Calls was 37.2% when this buy/write transaction occurred, which as preferred is well above the current 19.6% for the S&P 500 Volatility Index (i.e. VIX).
2/26/2026 Quarterly ex-dividend of $.25 per share.

3/20/2026 GPN closed out-of-the-money at $68.50 per share, so the Call options expired and the 400 Global Payments shares remained in the Covered Calls Advisor Portfolio.

3/23/2026 Closed out this Delta Covered Calls position by selling 400 GPN shares at $70.28.

The overall performance results (including commissions) for this Global Payments Inc. Covered Calls position are as follows:
Covered Calls Net Investment: $29,410.68
= ($78.63 - $5.11) * 400 shares + $2.68 commission

Net Profit Components:
(a) Options Income: +$2,046.68
= ($5.11 * 400 shares) - $2.68 commission
(b) Dividend Income: +$100.00
= ($.25 dividend per share x 400 shares)

(c) Capital Appreciation (400 GPN shares sold at $70.28 per share): -$3,340.00

+($70.28 stock selling price - $78.63 stock purchase price) * 400 shares

Total Net Loss: -$1,193.32

= (+$2,046.68 options income + $100.00 dividend income - $3,340.00 capital appreciation)

Absolute Return-on-Investment: -4.1%

= -$1,193.32/$29,410.68

Annualized Return-on-Investment: -54.9%

= (-$1,193.32/$29,410.68) * (365/27 days)