BX Covered Call
Every out-of-the-money BX 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 $127.00 strike at 4.1% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
BX covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $123.45 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 |
|---|---|---|---|---|---|---|---|
| $127.00 | 2.9% | $5.00 | 4.1% | 41.1% | $118.45 | 6.9% | 2 |
| $130.00 | 5.3% | $3.83 | 3.1% | 31.4% | $119.63 | 8.4% | 6 |
| $136.00 | 10.2% | $2.41 | 2.0% | 19.8% | $121.04 | 12.1% | 3 |
What the $127.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $123.45. Profit caps at $855.00 if BX finishes above $127.00; below $118.45 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $92.59 | $-25.86 | $-2,586.25 |
| $100.30 | $-18.15 | $-1,814.69 |
| $108.02 | $-10.43 | $-1,043.12 |
| $115.73 | $-2.72 | $-271.56 |
| $123.45 | +$5.00 | +$500.00 |
| $131.17 | +$8.55 | +$855.00 |
| $138.88 | +$8.55 | +$855.00 |
| $146.60 | +$8.55 | +$855.00 |
| $154.31 | +$8.55 | +$855.00 |
When a covered call fits BX
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 BX 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 BX loaded.
Questions
- What does a BX covered call pay right now?
- The $127.00 call expiring Oct 23, 2026 (36 days out) collects $5.00 per share, 4.1% of the $123.45 share price, or 41.1% annualised if you repeat it.
- What is the break-even on a BX covered call?
- Selling the $127.00 call against stock bought at $123.45 breaks even at $118.45 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if BX closes above the strike?
- The shares are called away at $127.00. Total return is 6.9%: the premium plus the move from $123.45 up to the strike. Gains above the strike belong to the buyer.
More on BX
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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.