CRWV Covered Call
Every out-of-the-money CRWV 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 $86.00 strike at 8.4% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
CRWV covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $83.35 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 |
|---|---|---|---|---|---|---|---|
| $86.00 | 3.2% | $7.03 | 8.4% | 85.5% | $76.32 | 11.6% | 14 |
| $88.00 | 5.6% | $6.25 | 7.5% | 76.0% | $77.10 | 13.1% | 59 |
| $92.00 | 10.4% | $5.00 | 6.0% | 60.8% | $78.35 | 16.4% | 37 |
What the $86.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $83.35. Profit caps at $967.50 if CRWV finishes above $86.00; below $76.32 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $62.51 | $-13.81 | $-1,381.25 |
| $67.72 | $-8.60 | $-860.31 |
| $72.93 | $-3.39 | $-339.38 |
| $78.14 | +$1.82 | +$181.56 |
| $83.35 | +$7.03 | +$702.50 |
| $88.56 | +$9.68 | +$967.50 |
| $93.77 | +$9.68 | +$967.50 |
| $98.98 | +$9.68 | +$967.50 |
| $104.19 | +$9.68 | +$967.50 |
When a covered call fits CRWV
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 CRWV 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 CRWV loaded.
Questions
- What does a CRWV covered call pay right now?
- The $86.00 call expiring Oct 23, 2026 (36 days out) collects $7.03 per share, 8.4% of the $83.35 share price, or 85.5% annualised if you repeat it.
- What is the break-even on a CRWV covered call?
- Selling the $86.00 call against stock bought at $83.35 breaks even at $76.32 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if CRWV closes above the strike?
- The shares are called away at $86.00. Total return is 11.6%: the premium plus the move from $83.35 up to the strike. Gains above the strike belong to the buyer.
More on CRWV
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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.