CRDO Covered Call
Every out-of-the-money CRDO 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 $165.00 strike at 8.2% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
CRDO covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $161.49 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 |
|---|---|---|---|---|---|---|---|
| $165.00 | 2.2% | $13.20 | 8.2% | 82.9% | $148.29 | 10.3% | 16 |
| $170.00 | 5.3% | $10.75 | 6.7% | 67.5% | $150.74 | 11.9% | 85 |
| $180.00 | 11.5% | $7.70 | 4.8% | 48.3% | $153.79 | 16.2% | 31 |
What the $165.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $161.49. Profit caps at $1,671.00 if CRDO finishes above $165.00; below $148.29 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $121.12 | $-27.17 | $-2,717.25 |
| $131.21 | $-17.08 | $-1,707.94 |
| $141.30 | $-6.99 | $-698.63 |
| $151.40 | +$3.11 | +$310.69 |
| $161.49 | +$13.20 | +$1,320.00 |
| $171.58 | +$16.71 | +$1,671.00 |
| $181.68 | +$16.71 | +$1,671.00 |
| $191.77 | +$16.71 | +$1,671.00 |
| $201.86 | +$16.71 | +$1,671.00 |
When a covered call fits CRDO
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 CRDO 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 CRDO loaded.
Questions
- What does a CRDO covered call pay right now?
- The $165.00 call expiring Oct 23, 2026 (36 days out) collects $13.20 per share, 8.2% of the $161.49 share price, or 82.9% annualised if you repeat it.
- What is the break-even on a CRDO covered call?
- Selling the $165.00 call against stock bought at $161.49 breaks even at $148.29 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if CRDO closes above the strike?
- The shares are called away at $165.00. Total return is 10.3%: the premium plus the move from $161.49 up to the strike. Gains above the strike belong to the buyer.
More on CRDO
Run the numbers
Weekly options-market digest
Sundays. What moved this week, what catalysts and earnings drive next week, and which 5-pillar setups stand out.
Free. One email per week. Unsubscribe with one click.
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.