BIDU Covered Call
Every out-of-the-money BIDU 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 $91.00 strike at 4.7% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
BIDU covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $88.55 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 |
|---|---|---|---|---|---|---|---|
| $91.00 | 2.8% | $4.15 | 4.7% | 47.5% | $84.40 | 7.5% | 25 |
| $93.00 | 5.0% | $3.32 | 3.7% | 38.0% | $85.24 | 8.8% | 17 |
| $97.00 | 9.5% | $2.00 | 2.3% | 22.8% | $86.55 | 11.8% | 1 |
What the $91.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $88.55. Profit caps at $660.00 if BIDU finishes above $91.00; below $84.40 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $66.41 | $-17.99 | $-1,798.75 |
| $71.95 | $-12.45 | $-1,245.31 |
| $77.48 | $-6.92 | $-691.88 |
| $83.02 | $-1.38 | $-138.44 |
| $88.55 | +$4.15 | +$415.00 |
| $94.08 | +$6.60 | +$660.00 |
| $99.62 | +$6.60 | +$660.00 |
| $105.15 | +$6.60 | +$660.00 |
| $110.69 | +$6.60 | +$660.00 |
When a covered call fits BIDU
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 BIDU 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 BIDU loaded.
Questions
- What does a BIDU covered call pay right now?
- The $91.00 call expiring Oct 23, 2026 (36 days out) collects $4.15 per share, 4.7% of the $88.55 share price, or 47.5% annualised if you repeat it.
- What is the break-even on a BIDU covered call?
- Selling the $91.00 call against stock bought at $88.55 breaks even at $84.40 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if BIDU closes above the strike?
- The shares are called away at $91.00. Total return is 7.5%: the premium plus the move from $88.55 up to the strike. Gains above the strike belong to the buyer.
More on BIDU
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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.