CCJ Covered Call
Every out-of-the-money CCJ 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 $94.00 strike at 4.6% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
CCJ covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $90.90 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 |
|---|---|---|---|---|---|---|---|
| $94.00 | 3.4% | $4.18 | 4.6% | 46.6% | $86.73 | 8.0% | 0 |
| $95.00 | 4.5% | $3.83 | 4.2% | 42.7% | $87.08 | 8.7% | 0 |
| $100.00 | 10.0% | $2.36 | 2.6% | 26.3% | $88.55 | 12.6% | 7 |
What the $94.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $90.90. Profit caps at $727.50 if CCJ finishes above $94.00; below $86.73 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $68.18 | $-18.55 | $-1,855.00 |
| $73.86 | $-12.87 | $-1,286.87 |
| $79.54 | $-7.19 | $-718.75 |
| $85.22 | $-1.51 | $-150.63 |
| $90.90 | +$4.18 | +$417.50 |
| $96.58 | +$7.27 | +$727.50 |
| $102.26 | +$7.27 | +$727.50 |
| $107.94 | +$7.27 | +$727.50 |
| $113.63 | +$7.27 | +$727.50 |
When a covered call fits CCJ
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 CCJ 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 CCJ loaded.
Questions
- What does a CCJ covered call pay right now?
- The $94.00 call expiring Oct 23, 2026 (36 days out) collects $4.18 per share, 4.6% of the $90.90 share price, or 46.6% annualised if you repeat it.
- What is the break-even on a CCJ covered call?
- Selling the $94.00 call against stock bought at $90.90 breaks even at $86.73 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if CCJ closes above the strike?
- The shares are called away at $94.00. Total return is 8.0%: the premium plus the move from $90.90 up to the strike. Gains above the strike belong to the buyer.
More on CCJ
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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.