Please help me understand the consequences of these recent transactions, specifically if there are any changes to the impending -call away of my shares- in a week and a half. At my brokerage, I held 100 shares of the ultrashort oil ETF ticker: DUG. I also held 1 contract of DZGAA a $27 January call. The fund declared a $6.06 per share capital gain distribution on 12/24. The date may or may not be correct, however the fund did drop $6 in value that day. Then my brokerage closed out the option debiting about $400: 12/24/2008 Security Receipt DZGAA DUG Jan '09 @ 27.00 CALL And opened a new position, crediting a strange $800: 12/24/2008 Security Delivery TYZAA DUG Jan '09 @ 27.00 CALL And here's the capital gain: 12/31/2008 Short Term Capital Gain DUG USD 606.10 As it looks to me, I've received $606 in the capital gain. An extra $400 in the security-transfer of these calls, and the call price is still $27/share. This seems too good to be true, anyone know what happened here?