AAPL Covered Call
Every out-of-the-money AAPL call expiring Sep 30, 2026, priced from the settled chain: what it pays, what it yields, and where the trade stops making money. The richest right now is the $342.50 strike at 0.7% over 13 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
AAPL covered call candidates — Sep 30, 2026, 13 days out
Strikes are picked by distance from the $332.41 share price, not by delta — the published chain carries premiums and open interest, not greeks, and inventing a delta here would be inventing data. Premium is the bid/ask midpoint where both sides quote, otherwise the last trade. The chain artifact publishes the six nearest expirations, so this is the longest one listed — 13 days out. Annualising anything shorter than a week says more about compounding arithmetic than about the trade, so those cells stay blank.
| Strike | % OTM | Premium | Yield | Annualised | Break-even | If assigned | OI |
|---|---|---|---|---|---|---|---|
| $342.50 | 3.0% | $2.43 | 0.7% | 20.5% | $329.98 | 3.8% | 0 |
| $350.00 | 5.3% | $1.21 | 0.4% | 10.2% | $331.20 | 5.7% | 4 |
| $360.00 | 8.3% | $0.30 | 0.1% | 2.5% | $332.11 | 8.4% | 2 |
What the $342.50 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $332.41. Profit caps at $1,252.00 if AAPL finishes above $342.50; below $329.98 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $249.31 | $-80.67 | $-8,067.25 |
| $270.08 | $-59.90 | $-5,989.69 |
| $290.86 | $-39.12 | $-3,912.13 |
| $311.63 | $-18.35 | $-1,834.56 |
| $332.41 | +$2.43 | +$243.00 |
| $353.19 | +$12.52 | +$1,252.00 |
| $373.96 | +$12.52 | +$1,252.00 |
| $394.74 | +$12.52 | +$1,252.00 |
| $415.51 | +$12.52 | +$1,252.00 |
When a covered call fits AAPL
A covered call sells someone else the right to buy your shares at the strike. It pays you today and caps your upside there, so it suits a holding you are content to own flat and content to sell at the strike — not one you expect to run.
The premium is compensation for implied volatility. Rich implied volatility pays more, and usually pays more because the market expects a move; a high annualised number on a name about to report earnings is a warning as often as an opportunity. Check the AAPL expected move and the open-interest walls before assuming the strike is far enough away.
Full mechanics, assignment and rolling are in the covered call guide; to model a different strike or a multi-leg version, open the profit calculator with AAPL loaded.
Questions
- What does a AAPL covered call pay right now?
- The $342.50 call expiring Sep 30, 2026 (13 days out) collects $2.43 per share, 0.7% of the $332.41 share price, or 20.5% annualised if you repeat it.
- What is the break-even on a AAPL covered call?
- Selling the $342.50 call against stock bought at $332.41 breaks even at $329.98 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if AAPL closes above the strike?
- The shares are called away at $342.50. Total return is 3.8%: the premium plus the move from $332.41 up to the strike. Gains above the strike belong to the buyer.
More on AAPL
Run the numbers
Weekly options-market digest
Sundays. What moved this week, what catalysts and earnings drive next week, and which 5-pillar setups stand out.
Free. One email per week. Unsubscribe with one click.
Educational, not investment advice. Options involve risk. Open interest is reported with a one-session lag by OCC, so these levels describe positioning as of the last settled session, not live intraday flow.