BMY Covered Call
Every out-of-the-money BMY 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 $66.00 strike at 1.7% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
BMY covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $63.60 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 |
|---|---|---|---|---|---|---|---|
| $66.00 | 3.8% | $1.06 | 1.7% | 16.9% | $62.54 | 5.4% | 31 |
| $67.00 | 5.3% | $0.78 | 1.2% | 12.4% | $62.82 | 6.6% | 18 |
| $70.00 | 10.1% | $0.32 | 0.5% | 5.1% | $63.28 | 10.6% | 13 |
What the $66.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $63.60. Profit caps at $346.00 if BMY finishes above $66.00; below $62.54 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $47.70 | $-14.84 | $-1,484.00 |
| $51.68 | $-10.86 | $-1,086.50 |
| $55.65 | $-6.89 | $-689.00 |
| $59.63 | $-2.92 | $-291.50 |
| $63.60 | +$1.06 | +$106.00 |
| $67.58 | +$3.46 | +$346.00 |
| $71.55 | +$3.46 | +$346.00 |
| $75.53 | +$3.46 | +$346.00 |
| $79.50 | +$3.46 | +$346.00 |
When a covered call fits BMY
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 BMY 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 BMY loaded.
Questions
- What does a BMY covered call pay right now?
- The $66.00 call expiring Oct 23, 2026 (36 days out) collects $1.06 per share, 1.7% of the $63.60 share price, or 16.9% annualised if you repeat it.
- What is the break-even on a BMY covered call?
- Selling the $66.00 call against stock bought at $63.60 breaks even at $62.54 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if BMY closes above the strike?
- The shares are called away at $66.00. Total return is 5.4%: the premium plus the move from $63.60 up to the strike. Gains above the strike belong to the buyer.
More on BMY
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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.