GLW Covered Call
Every out-of-the-money GLW 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 $150.00 strike at 6.0% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
GLW covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $144.16 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 |
|---|---|---|---|---|---|---|---|
| $150.00 | 4.1% | $8.68 | 6.0% | 61.0% | $135.48 | 10.1% | 91 |
| $160.00 | 11.0% | $5.45 | 3.8% | 38.3% | $138.71 | 14.8% | 83 |
What the $150.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $144.16. Profit caps at $1,451.50 if GLW finishes above $150.00; below $135.48 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $108.12 | $-27.36 | $-2,736.50 |
| $117.13 | $-18.36 | $-1,835.50 |
| $126.14 | $-9.34 | $-934.50 |
| $135.15 | $-0.33 | $-33.50 |
| $144.16 | +$8.68 | +$867.50 |
| $153.17 | +$14.52 | +$1,451.50 |
| $162.18 | +$14.52 | +$1,451.50 |
| $171.19 | +$14.52 | +$1,451.50 |
| $180.20 | +$14.52 | +$1,451.50 |
When a covered call fits GLW
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 GLW 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 GLW loaded.
Questions
- What does a GLW covered call pay right now?
- The $150.00 call expiring Oct 23, 2026 (36 days out) collects $8.68 per share, 6.0% of the $144.16 share price, or 61.0% annualised if you repeat it.
- What is the break-even on a GLW covered call?
- Selling the $150.00 call against stock bought at $144.16 breaks even at $135.48 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if GLW closes above the strike?
- The shares are called away at $150.00. Total return is 10.1%: the premium plus the move from $144.16 up to the strike. Gains above the strike belong to the buyer.
More on GLW
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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.