Early Christmas present from IEF--or give and take?

I have not so patiently waited to close out my IEF dividend capture position.  I am still short IEF 91 Nov Calls and long IEF.  The calls have been showing IVs that have moved from really high to outrageously high.   They have been marked as being adjusted, and today I found out why--IEF declared a long term capital distribution of 0.51 for shares owned before the 2nd of November.  This was certainly not a routine distribution, unprecedented in at least the last 5 years.   As near as I can tell this surprise distribution will be extracted ($50.90 per call) from the short call holders who held the short positions before the distribution if the options are called.

With this information the premium price for the calls makes sense. Since I own the underlying this doesn't hurt me--I've already collected the distribution, but it seems like it could be unfair to traders with net short positions on call options.

If my interpretation of this modified contract is correct, ITM options will carry a .51 premium at expiration in addition to their intrinsic value.