ABBV Covered Call
Every out-of-the-money ABBV call expiring Oct 23, 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 $270.00 strike at 1.8% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
ABBV covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $262.51 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 — 36 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 |
|---|---|---|---|---|---|---|---|
| $270.00 | 2.9% | $4.65 | 1.8% | 18.0% | $257.86 | 4.6% | 143 |
| $275.00 | 4.8% | $3.76 | 1.4% | 14.5% | $258.75 | 6.2% | 119 |
| $290.00 | 10.5% | $1.32 | 0.5% | 5.1% | $261.20 | 11.0% | 33 |
What the $270.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $262.51. Profit caps at $1,214.00 if ABBV finishes above $270.00; below $257.86 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $196.88 | $-60.98 | $-6,097.75 |
| $213.29 | $-44.57 | $-4,457.06 |
| $229.70 | $-28.16 | $-2,816.38 |
| $246.10 | $-11.76 | $-1,175.69 |
| $262.51 | +$4.65 | +$465.00 |
| $278.92 | +$12.14 | +$1,214.00 |
| $295.32 | +$12.14 | +$1,214.00 |
| $311.73 | +$12.14 | +$1,214.00 |
| $328.14 | +$12.14 | +$1,214.00 |
When a covered call fits ABBV
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 ABBV 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 ABBV loaded.
Questions
- What does a ABBV covered call pay right now?
- The $270.00 call expiring Oct 23, 2026 (36 days out) collects $4.65 per share, 1.8% of the $262.51 share price, or 18.0% annualised if you repeat it.
- What is the break-even on a ABBV covered call?
- Selling the $270.00 call against stock bought at $262.51 breaks even at $257.86 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if ABBV closes above the strike?
- The shares are called away at $270.00. Total return is 4.6%: the premium plus the move from $262.51 up to the strike. Gains above the strike belong to the buyer.
More on ABBV
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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.