COIN Covered Call
Every out-of-the-money COIN 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 $170.00 strike at 6.9% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
COIN covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $164.51 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 |
|---|---|---|---|---|---|---|---|
| $170.00 | 3.3% | $11.38 | 6.9% | 70.1% | $153.14 | 10.3% | 41 |
| $172.50 | 4.9% | $10.13 | 6.2% | 62.4% | $154.39 | 11.0% | 11 |
| $180.00 | 9.4% | $7.73 | 4.7% | 47.6% | $156.79 | 14.1% | 75 |
What the $170.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $164.51. Profit caps at $1,686.50 if COIN finishes above $170.00; below $153.14 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $123.38 | $-29.75 | $-2,975.25 |
| $133.66 | $-19.47 | $-1,947.06 |
| $143.95 | $-9.19 | $-918.87 |
| $154.23 | +$1.09 | +$109.31 |
| $164.51 | +$11.38 | +$1,137.50 |
| $174.79 | +$16.87 | +$1,686.50 |
| $185.07 | +$16.87 | +$1,686.50 |
| $195.36 | +$16.87 | +$1,686.50 |
| $205.64 | +$16.87 | +$1,686.50 |
When a covered call fits COIN
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 COIN 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 COIN loaded.
Questions
- What does a COIN covered call pay right now?
- The $170.00 call expiring Oct 23, 2026 (36 days out) collects $11.38 per share, 6.9% of the $164.51 share price, or 70.1% annualised if you repeat it.
- What is the break-even on a COIN covered call?
- Selling the $170.00 call against stock bought at $164.51 breaks even at $153.14 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if COIN closes above the strike?
- The shares are called away at $170.00. Total return is 10.3%: the premium plus the move from $164.51 up to the strike. Gains above the strike belong to the buyer.
More on COIN
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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.