GOOG Covered Call
Every out-of-the-money GOOG 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 $350.00 strike at 2.7% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
GOOG covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $339.36 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 |
|---|---|---|---|---|---|---|---|
| $350.00 | 3.1% | $9.10 | 2.7% | 27.2% | $330.26 | 5.8% | 531 |
| $355.00 | 4.6% | $7.68 | 2.3% | 22.9% | $331.69 | 6.9% | 388 |
| $375.00 | 10.5% | $3.13 | 0.9% | 9.3% | $336.24 | 11.4% | 188 |
What the $350.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $339.36. Profit caps at $1,974.00 if GOOG finishes above $350.00; below $330.26 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $254.52 | $-75.74 | $-7,574.00 |
| $275.73 | $-54.53 | $-5,453.00 |
| $296.94 | $-33.32 | $-3,332.00 |
| $318.15 | $-12.11 | $-1,211.00 |
| $339.36 | +$9.10 | +$910.00 |
| $360.57 | +$19.74 | +$1,974.00 |
| $381.78 | +$19.74 | +$1,974.00 |
| $402.99 | +$19.74 | +$1,974.00 |
| $424.20 | +$19.74 | +$1,974.00 |
When a covered call fits GOOG
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 GOOG 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 GOOG loaded.
Questions
- What does a GOOG covered call pay right now?
- The $350.00 call expiring Oct 23, 2026 (36 days out) collects $9.10 per share, 2.7% of the $339.36 share price, or 27.2% annualised if you repeat it.
- What is the break-even on a GOOG covered call?
- Selling the $350.00 call against stock bought at $339.36 breaks even at $330.26 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if GOOG closes above the strike?
- The shares are called away at $350.00. Total return is 5.8%: the premium plus the move from $339.36 up to the strike. Gains above the strike belong to the buyer.
More on GOOG
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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.