With Intel trading just under $22, CCI rolled the June $22 covered calls in the portfolio to Aug.
Specifically the $22 June calls were bought and $22 Aug calls sold for a net credit of $.61/share.
The June calls were originally sold for $.84 on 4/26 and covered by this transaction at $.18 for a gain of $.66 or 3% over just under 2 months.
The August calls were sold at $.79, and that expiration is after the next earning release and x-date.
Scenarios. It is almost a sure thing that the June $23 puts sold on June 1 will be assigned this week at an effective cost basis of around $21.90
Stock Up - The stock trades over $22 by August, and in essence a lot will have been purchased at $21.90, sold at $22.79 and collect a $.18 dividend. That is about a $1.07 (4.8%).
Stock down - If held to expiration the portfolio would keep the $.79 premium reducing the purchase price by about 4% and CCI will likely be once again looking to sell a lot of the stock via covered calls.