Early Assignment of Covered Call Position in Amgen Inc.

I was notified via email early this morning by my broker (Schwab) that the one Amgen Inc. (ticker AMGN) May 22nd, 2026 Call option was exercised early.  Amgen's stock price increased from $328.90 when this position was established to $336.23 at yesterday's market close.  The original $2.10 time value in the Call option when the position was established had declined substantially at yesterday's market close. So, with 7 days remaining until the May 22nd, 2026 options expiration date, the owner of this Call exercised their option to buy the 100 shares at the $322.50 strike price in order to receive today's (May 15th) $2.52 per share ex-dividend and I achieved all of the original $2.10 per share time value as profit.  

Although I will not receive the ex-dividend, I am satisfied with the +59.6% annualized-return-on-investment (aroi) result achieved since it exceeds the 47.6% maximum aroi that might have been achieved if this position instead had remained in-the-money and would have therefore been assigned on its upcoming May 22nd options expiration date.   

The post when this Amgen Covered Call position was originally established is here.  

As detailed below, the return-on-investment result for this Amgen Inc. Covered Call position was +0.7% absolute return in 4 days (equivalent to a +59.6% annualized return-on-investment).

Amgen Inc. (AMGN) -- Covered Call Position Closed by Early Assignment

The detailed transactions for this position were as follows:

5/11/2026 Bought 100 Amgen Inc. shares @ $328.90
5/11/2026 Sold 1 AMGN 5/22/2026 $322.50 Call option @ $8.50 per share.
Note: Implied Volatility (IV) of the Call option was 20.2 when this position was transacted which, as preferred, was above the current VIX of 18.4.   
5/15/2026 Early Assignment of this one Amgen Call option, so the Call expired and 100 Amgen shares were sold at the $322.50 strike price.

The overall performance results (including commissions) for this Amgen Covered Call position are as follows:
Covered Call Net Investment: $32,040.67
= ($328.90 - $8.50) * 100 shares + $.67 commission

Net Profit Components:
(a) Option Income: +$849.33
= ($8.50 * 100 shares) - $.67 commission
(b) Dividend Income (Amgen Call option exercised early on May 14th, 2026, the last business day prior to the May 15th ex-div date): +$0.00

(c) Capital Appreciation: -$640.00

= ($322.50 strike price - $328.90 stock purchase price) * 100 shares

Total Net Profit: +$209.33

= (+$849.33 option income + $0.00 dividend income - $640.00 capital appreciation)

Absolute Return-on-Investment: +0.7%

= +$209.33/$32,040.67

Equivalent Annualized Return-on-Investment: +59.6%

= (+$209.33/$32,040.67) * (365/4 days)