BAC Covered Call
Every out-of-the-money BAC 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 $60.00 strike at 2.0% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
BAC covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $57.90 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 |
|---|---|---|---|---|---|---|---|
| $60.00 | 3.6% | $1.18 | 2.0% | 20.6% | $56.73 | 5.7% | 157 |
| $61.00 | 5.4% | $0.84 | 1.5% | 14.7% | $57.06 | 6.8% | 177 |
| $64.00 | 10.5% | $0.28 | 0.5% | 4.9% | $57.62 | 11.0% | 26 |
What the $60.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $57.90. Profit caps at $327.50 if BAC finishes above $60.00; below $56.73 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $43.43 | $-13.30 | $-1,330.00 |
| $47.04 | $-9.68 | $-968.13 |
| $50.66 | $-6.06 | $-606.25 |
| $54.28 | $-2.44 | $-244.37 |
| $57.90 | +$1.18 | +$117.50 |
| $61.52 | +$3.28 | +$327.50 |
| $65.14 | +$3.28 | +$327.50 |
| $68.76 | +$3.28 | +$327.50 |
| $72.38 | +$3.28 | +$327.50 |
When a covered call fits BAC
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 BAC 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 BAC loaded.
Questions
- What does a BAC covered call pay right now?
- The $60.00 call expiring Oct 23, 2026 (36 days out) collects $1.18 per share, 2.0% of the $57.90 share price, or 20.6% annualised if you repeat it.
- What is the break-even on a BAC covered call?
- Selling the $60.00 call against stock bought at $57.90 breaks even at $56.73 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if BAC closes above the strike?
- The shares are called away at $60.00. Total return is 5.7%: the premium plus the move from $57.90 up to the strike. Gains above the strike belong to the buyer.
More on BAC
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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.