DELL Covered Call
Every out-of-the-money DELL 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 $580.00 strike at 6.8% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
DELL covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $563.29 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 |
|---|---|---|---|---|---|---|---|
| $580.00 | 3.0% | $38.23 | 6.8% | 68.8% | $525.06 | 9.8% | 14 |
| $590.00 | 4.7% | $34.43 | 6.1% | 62.0% | $528.87 | 10.9% | 33 |
| $620.00 | 10.1% | $24.25 | 4.3% | 43.6% | $539.04 | 14.4% | 26 |
What the $580.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $563.29. Profit caps at $5,493.50 if DELL finishes above $580.00; below $525.06 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $422.47 | $-102.60 | $-10,259.75 |
| $457.67 | $-67.39 | $-6,739.19 |
| $492.88 | $-32.19 | $-3,218.62 |
| $528.08 | +$3.02 | +$301.94 |
| $563.29 | +$38.23 | +$3,822.50 |
| $598.50 | +$54.94 | +$5,493.50 |
| $633.70 | +$54.94 | +$5,493.50 |
| $668.91 | +$54.94 | +$5,493.50 |
| $704.11 | +$54.94 | +$5,493.50 |
When a covered call fits DELL
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 DELL 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 DELL loaded.
Questions
- What does a DELL covered call pay right now?
- The $580.00 call expiring Oct 23, 2026 (36 days out) collects $38.23 per share, 6.8% of the $563.29 share price, or 68.8% annualised if you repeat it.
- What is the break-even on a DELL covered call?
- Selling the $580.00 call against stock bought at $563.29 breaks even at $525.06 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if DELL closes above the strike?
- The shares are called away at $580.00. Total return is 9.8%: the premium plus the move from $563.29 up to the strike. Gains above the strike belong to the buyer.
More on DELL
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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.