F Covered Call
Every out-of-the-money F 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 $14.00 strike at 2.6% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
F covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $13.35 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 |
|---|---|---|---|---|---|---|---|
| $14.00 | 4.9% | $0.35 | 2.6% | 26.2% | $13.00 | 7.5% | 193 |
| $14.50 | 8.6% | $0.23 | 1.7% | 17.1% | $13.13 | 10.3% | 366 |
What the $14.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $13.35. Profit caps at $99.50 if F finishes above $14.00; below $13.00 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $10.01 | $-2.99 | $-299.25 |
| $10.85 | $-2.16 | $-215.81 |
| $11.68 | $-1.32 | $-132.38 |
| $12.52 | $-0.49 | $-48.94 |
| $13.35 | +$0.35 | +$34.50 |
| $14.18 | +$1.00 | +$99.50 |
| $15.02 | +$1.00 | +$99.50 |
| $15.85 | +$1.00 | +$99.50 |
| $16.69 | +$1.00 | +$99.50 |
When a covered call fits F
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 F 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 F loaded.
Questions
- What does a F covered call pay right now?
- The $14.00 call expiring Oct 23, 2026 (36 days out) collects $0.35 per share, 2.6% of the $13.35 share price, or 26.2% annualised if you repeat it.
- What is the break-even on a F covered call?
- Selling the $14.00 call against stock bought at $13.35 breaks even at $13.00 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if F closes above the strike?
- The shares are called away at $14.00. Total return is 7.5%: the premium plus the move from $13.35 up to the strike. Gains above the strike belong to the buyer.
More on F
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.