AUR Covered Call
Every out-of-the-money AUR 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 $6.50 strike at 7.5% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
AUR covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $6.36 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 |
|---|---|---|---|---|---|---|---|
| $6.50 | 2.2% | $0.48 | 7.5% | 75.7% | $5.89 | 9.7% | 69 |
| $7.00 | 10.1% | $0.33 | 5.1% | 51.8% | $6.04 | 15.2% | 3 |
What the $6.50 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $6.36. Profit caps at $61.50 if AUR finishes above $6.50; below $5.89 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $4.77 | $-1.11 | $-111.50 |
| $5.17 | $-0.72 | $-71.75 |
| $5.57 | $-0.32 | $-32.00 |
| $5.96 | +$0.08 | +$7.75 |
| $6.36 | +$0.48 | +$47.50 |
| $6.76 | +$0.61 | +$61.50 |
| $7.16 | +$0.61 | +$61.50 |
| $7.55 | +$0.61 | +$61.50 |
| $7.95 | +$0.61 | +$61.50 |
When a covered call fits AUR
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 AUR 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 AUR loaded.
Questions
- What does a AUR covered call pay right now?
- The $6.50 call expiring Oct 23, 2026 (36 days out) collects $0.48 per share, 7.5% of the $6.36 share price, or 75.7% annualised if you repeat it.
- What is the break-even on a AUR covered call?
- Selling the $6.50 call against stock bought at $6.36 breaks even at $5.89 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if AUR closes above the strike?
- The shares are called away at $6.50. Total return is 9.7%: the premium plus the move from $6.36 up to the strike. Gains above the strike belong to the buyer.
More on AUR
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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.