APLD Covered Call
Every out-of-the-money APLD 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 $25.00 strike at 10.8% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
APLD covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $24.39 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 |
|---|---|---|---|---|---|---|---|
| $25.00 | 2.5% | $2.63 | 10.8% | 109.1% | $21.77 | 13.3% | 161 |
| $26.00 | 6.6% | $2.18 | 8.9% | 90.6% | $22.21 | 15.5% | 27 |
| $27.00 | 10.7% | $1.50 | 6.2% | 62.4% | $22.89 | 16.9% | 13 |
What the $25.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $24.39. Profit caps at $323.50 if APLD finishes above $25.00; below $21.77 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $18.29 | $-3.47 | $-347.25 |
| $19.82 | $-1.95 | $-194.81 |
| $21.34 | $-0.42 | $-42.37 |
| $22.87 | +$1.10 | +$110.06 |
| $24.39 | +$2.63 | +$262.50 |
| $25.91 | +$3.23 | +$323.50 |
| $27.44 | +$3.23 | +$323.50 |
| $28.96 | +$3.23 | +$323.50 |
| $30.49 | +$3.23 | +$323.50 |
When a covered call fits APLD
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 APLD 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 APLD loaded.
Questions
- What does a APLD covered call pay right now?
- The $25.00 call expiring Oct 23, 2026 (36 days out) collects $2.63 per share, 10.8% of the $24.39 share price, or 109.1% annualised if you repeat it.
- What is the break-even on a APLD covered call?
- Selling the $25.00 call against stock bought at $24.39 breaks even at $21.77 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if APLD closes above the strike?
- The shares are called away at $25.00. Total return is 13.3%: the premium plus the move from $24.39 up to the strike. Gains above the strike belong to the buyer.
More on APLD
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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.