Trade Continuation: Conoco Phillips (COP) Covered Calls

Today in a taxable account I continued the following transaction:

01/13/2012    Bought 200 COP @ 70.29                               -14,067.97
01/13/2012    STO 2 COP Jan 21 2012 70 Calls @.99                   186.47
01/20/2012    BTC 2 COP Jan 21 2012 70 Calls @.77                  -165.52
01/20/2012    STO 2 COP Jan 27 2012 70 Calls @1.35                +258.45

We rolled the covered call for a net credit of $92.93. This lowers our out of pocket to $13788.57 or $68.94/share. If we get called away we will make $190.43 in 2 weeks. This equates to a return of 1.4% or 35.9% annual. Before we get exercised we will look to roll the options again with an eye on the weeklys.