AMD Covered Call
Every out-of-the-money AMD 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 $527.50 strike at 2.8% over 13 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
AMD covered call candidates — Sep 30, 2026, 13 days out
Strikes are picked by distance from the $512.50 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 |
|---|---|---|---|---|---|---|---|
| $527.50 | 2.9% | $14.23 | 2.8% | 77.9% | $498.28 | 5.7% | 0 |
| $540.00 | 5.4% | $10.08 | 2.0% | 55.2% | $502.43 | 7.3% | 13 |
| $565.00 | 10.2% | $4.80 | 0.9% | 26.3% | $507.70 | 11.2% | 0 |
What the $527.50 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $512.50. Profit caps at $2,922.50 if AMD finishes above $527.50; below $498.28 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $384.38 | $-113.90 | $-11,390.00 |
| $416.41 | $-81.87 | $-8,186.88 |
| $448.44 | $-49.84 | $-4,983.75 |
| $480.47 | $-17.81 | $-1,780.62 |
| $512.50 | +$14.23 | +$1,422.50 |
| $544.53 | +$29.23 | +$2,922.50 |
| $576.56 | +$29.23 | +$2,922.50 |
| $608.59 | +$29.23 | +$2,922.50 |
| $640.63 | +$29.23 | +$2,922.50 |
When a covered call fits AMD
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 AMD 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 AMD loaded.
Questions
- What does a AMD covered call pay right now?
- The $527.50 call expiring Sep 30, 2026 (13 days out) collects $14.23 per share, 2.8% of the $512.50 share price, or 77.9% annualised if you repeat it.
- What is the break-even on a AMD covered call?
- Selling the $527.50 call against stock bought at $512.50 breaks even at $498.28 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if AMD closes above the strike?
- The shares are called away at $527.50. Total return is 5.7%: the premium plus the move from $512.50 up to the strike. Gains above the strike belong to the buyer.
More on AMD
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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.