Can someone help me understand options and ex-dividend stocks?

I am trying to get a handle on exactly what happens from a calendar and money flow standpoint when stocks go ex-dividend and dividends are paid. I will create a hypothetical situation. Can someone fill in the rest? Note: I am not looking for comments on this as a strategy, I am simply trying to understand how... show more I am trying to get a handle on exactly what happens from a calendar and money flow standpoint when stocks go ex-dividend and dividends are paid. I will create a hypothetical situation. Can someone fill in the rest? Note: I am not looking for comments on this as a strategy, I am simply trying to understand how money flows and what happens to stock and options prices because I have never been long a stock with a covered call that crossed an ex-dividend date and my virtual account doesn't pay dividends. Consequently I cannot see what actually happens.

JNJ has an ex-dividend date of 2/22/13 for a dividend of $0.61/shr. On 2/21/13 I purchase 100 shares of JNJ at $76.55/sh. At the same time I sell a 75 strike call for $1.64. (yes, I know I could get early exercised. Assume I don't.) So far I have:

2/20/13: ($7655.00) + 100 JNJ@$76.55
2/20/13 $164 -1 75CallJNJ 1Mar13 @ $1.64

Having bought the day before ex-dividend I believe I will get a $61.00 dividend payment. What happens to the stock and option price?
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