CRWD Covered Call
Every out-of-the-money CRWD 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 $250.00 strike at 5.7% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
CRWD covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $241.36 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 |
|---|---|---|---|---|---|---|---|
| $250.00 | 3.6% | $13.73 | 5.7% | 57.7% | $227.64 | 9.3% | 54 |
| $255.00 | 5.7% | $11.75 | 4.9% | 49.4% | $229.61 | 10.5% | 28 |
| $265.00 | 9.8% | $8.70 | 3.6% | 36.5% | $232.66 | 13.4% | 38 |
What the $250.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $241.36. Profit caps at $2,236.50 if CRWD finishes above $250.00; below $227.64 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $181.02 | $-46.62 | $-4,661.50 |
| $196.11 | $-31.53 | $-3,153.00 |
| $211.19 | $-16.44 | $-1,644.50 |
| $226.28 | $-1.36 | $-136.00 |
| $241.36 | +$13.73 | +$1,372.50 |
| $256.45 | +$22.36 | +$2,236.50 |
| $271.53 | +$22.36 | +$2,236.50 |
| $286.62 | +$22.36 | +$2,236.50 |
| $301.70 | +$22.36 | +$2,236.50 |
When a covered call fits CRWD
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 CRWD 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 CRWD loaded.
Questions
- What does a CRWD covered call pay right now?
- The $250.00 call expiring Oct 23, 2026 (36 days out) collects $13.73 per share, 5.7% of the $241.36 share price, or 57.7% annualised if you repeat it.
- What is the break-even on a CRWD covered call?
- Selling the $250.00 call against stock bought at $241.36 breaks even at $227.64 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if CRWD closes above the strike?
- The shares are called away at $250.00. Total return is 9.3%: the premium plus the move from $241.36 up to the strike. Gains above the strike belong to the buyer.
More on CRWD
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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.