BE Covered Call
Every out-of-the-money BE 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 $280.00 strike at 8.9% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
BE covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $270.02 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 |
|---|---|---|---|---|---|---|---|
| $280.00 | 3.7% | $24.15 | 8.9% | 90.7% | $245.87 | 12.6% | 222 |
| $285.00 | 5.5% | $22.25 | 8.2% | 83.5% | $247.77 | 13.8% | 32 |
| $295.00 | 9.3% | $18.50 | 6.9% | 69.5% | $251.52 | 16.1% | 25 |
What the $280.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $270.02. Profit caps at $3,413.00 if BE finishes above $280.00; below $245.87 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $202.52 | $-43.36 | $-4,335.50 |
| $219.39 | $-26.48 | $-2,647.88 |
| $236.27 | $-9.60 | $-960.25 |
| $253.14 | +$7.27 | +$727.38 |
| $270.02 | +$24.15 | +$2,415.00 |
| $286.90 | +$34.13 | +$3,413.00 |
| $303.77 | +$34.13 | +$3,413.00 |
| $320.65 | +$34.13 | +$3,413.00 |
| $337.53 | +$34.13 | +$3,413.00 |
When a covered call fits BE
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 BE 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 BE loaded.
Questions
- What does a BE covered call pay right now?
- The $280.00 call expiring Oct 23, 2026 (36 days out) collects $24.15 per share, 8.9% of the $270.02 share price, or 90.7% annualised if you repeat it.
- What is the break-even on a BE covered call?
- Selling the $280.00 call against stock bought at $270.02 breaks even at $245.87 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if BE closes above the strike?
- The shares are called away at $280.00. Total return is 12.6%: the premium plus the move from $270.02 up to the strike. Gains above the strike belong to the buyer.
More on BE
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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.