AMZN Covered Call
Every out-of-the-money AMZN 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 $252.50 strike at 1.3% over 13 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
AMZN covered call candidates — Sep 30, 2026, 13 days out
Strikes are picked by distance from the $245.96 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 |
|---|---|---|---|---|---|---|---|
| $252.50 | 2.7% | $3.20 | 1.3% | 36.5% | $242.76 | 4.0% | 0 |
| $257.50 | 4.7% | $1.89 | 0.8% | 21.6% | $244.07 | 5.5% | 0 |
| $270.00 | 9.8% | $0.44 | 0.2% | 5.0% | $245.52 | 10.0% | 147 |
What the $252.50 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $245.96. Profit caps at $974.00 if AMZN finishes above $252.50; below $242.76 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $184.47 | $-58.29 | $-5,829.00 |
| $199.84 | $-42.92 | $-4,291.75 |
| $215.22 | $-27.55 | $-2,754.50 |
| $230.59 | $-12.17 | $-1,217.25 |
| $245.96 | +$3.20 | +$320.00 |
| $261.33 | +$9.74 | +$974.00 |
| $276.71 | +$9.74 | +$974.00 |
| $292.08 | +$9.74 | +$974.00 |
| $307.45 | +$9.74 | +$974.00 |
When a covered call fits AMZN
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 AMZN 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 AMZN loaded.
Questions
- What does a AMZN covered call pay right now?
- The $252.50 call expiring Sep 30, 2026 (13 days out) collects $3.20 per share, 1.3% of the $245.96 share price, or 36.5% annualised if you repeat it.
- What is the break-even on a AMZN covered call?
- Selling the $252.50 call against stock bought at $245.96 breaks even at $242.76 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if AMZN closes above the strike?
- The shares are called away at $252.50. Total return is 4.0%: the premium plus the move from $245.96 up to the strike. Gains above the strike belong to the buyer.
More on AMZN
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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.