EWZ Covered Call
Every out-of-the-money EWZ call expiring Oct 16, 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 $39.00 strike at 3.6% over 29 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
EWZ covered call candidates — Oct 16, 2026, 29 days out
Strikes are picked by distance from the $37.48 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 — 29 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 |
|---|---|---|---|---|---|---|---|
| $39.00 | 4.1% | $1.34 | 3.6% | 45.0% | $36.14 | 7.6% | 44,970 |
| $41.00 | 9.4% | $0.69 | 1.8% | 23.2% | $36.79 | 11.2% | 87,752 |
What the $39.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $37.48. Profit caps at $286.00 if EWZ finishes above $39.00; below $36.14 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $28.11 | $-8.03 | $-803.00 |
| $30.45 | $-5.69 | $-568.75 |
| $32.80 | $-3.34 | $-334.50 |
| $35.14 | $-1.00 | $-100.25 |
| $37.48 | +$1.34 | +$134.00 |
| $39.82 | +$2.86 | +$286.00 |
| $42.16 | +$2.86 | +$286.00 |
| $44.51 | +$2.86 | +$286.00 |
| $46.85 | +$2.86 | +$286.00 |
When a covered call fits EWZ
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 EWZ 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 EWZ loaded.
Questions
- What does a EWZ covered call pay right now?
- The $39.00 call expiring Oct 16, 2026 (29 days out) collects $1.34 per share, 3.6% of the $37.48 share price, or 45.0% annualised if you repeat it.
- What is the break-even on a EWZ covered call?
- Selling the $39.00 call against stock bought at $37.48 breaks even at $36.14 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if EWZ closes above the strike?
- The shares are called away at $39.00. Total return is 7.6%: the premium plus the move from $37.48 up to the strike. Gains above the strike belong to the buyer.
More on EWZ
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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.