CIFR Covered Call
Every out-of-the-money CIFR 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 $17.00 strike at 12.6% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
CIFR covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $16.72 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 |
|---|---|---|---|---|---|---|---|
| $17.00 | 1.7% | $2.11 | 12.6% | 127.9% | $14.61 | 14.3% | 44 |
| $17.50 | 4.7% | $1.80 | 10.8% | 109.2% | $14.92 | 15.4% | 36 |
| $18.50 | 10.6% | $1.53 | 9.1% | 92.5% | $15.19 | 19.8% | 21 |
What the $17.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $16.72. Profit caps at $239.00 if CIFR finishes above $17.00; below $14.61 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $12.54 | $-2.07 | $-207.00 |
| $13.58 | $-1.03 | $-102.50 |
| $14.63 | +$0.02 | +$2.00 |
| $15.67 | +$1.07 | +$106.50 |
| $16.72 | +$2.11 | +$211.00 |
| $17.77 | +$2.39 | +$239.00 |
| $18.81 | +$2.39 | +$239.00 |
| $19.85 | +$2.39 | +$239.00 |
| $20.90 | +$2.39 | +$239.00 |
When a covered call fits CIFR
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 CIFR 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 CIFR loaded.
Questions
- What does a CIFR covered call pay right now?
- The $17.00 call expiring Oct 23, 2026 (36 days out) collects $2.11 per share, 12.6% of the $16.72 share price, or 127.9% annualised if you repeat it.
- What is the break-even on a CIFR covered call?
- Selling the $17.00 call against stock bought at $16.72 breaks even at $14.61 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if CIFR closes above the strike?
- The shares are called away at $17.00. Total return is 14.3%: the premium plus the move from $16.72 up to the strike. Gains above the strike belong to the buyer.
More on CIFR
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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.