BA Covered Call
Every out-of-the-money BA 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 $210.00 strike at 2.7% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
BA covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $201.96 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 — 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 |
|---|---|---|---|---|---|---|---|
| $210.00 | 4.0% | $5.40 | 2.7% | 27.1% | $196.56 | 6.7% | 128 |
| $220.00 | 8.9% | $2.63 | 1.3% | 13.2% | $199.33 | 10.2% | 45 |
What the $210.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $201.96. Profit caps at $1,344.00 if BA finishes above $210.00; below $196.56 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $151.47 | $-45.09 | $-4,509.00 |
| $164.09 | $-32.47 | $-3,246.75 |
| $176.72 | $-19.85 | $-1,984.50 |
| $189.34 | $-7.22 | $-722.25 |
| $201.96 | +$5.40 | +$540.00 |
| $214.58 | +$13.44 | +$1,344.00 |
| $227.21 | +$13.44 | +$1,344.00 |
| $239.83 | +$13.44 | +$1,344.00 |
| $252.45 | +$13.44 | +$1,344.00 |
When a covered call fits BA
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 BA 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 BA loaded.
Questions
- What does a BA covered call pay right now?
- The $210.00 call expiring Oct 23, 2026 (36 days out) collects $5.40 per share, 2.7% of the $201.96 share price, or 27.1% annualised if you repeat it.
- What is the break-even on a BA covered call?
- Selling the $210.00 call against stock bought at $201.96 breaks even at $196.56 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if BA closes above the strike?
- The shares are called away at $210.00. Total return is 6.7%: the premium plus the move from $201.96 up to the strike. Gains above the strike belong to the buyer.
More on BA
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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.