HIMS Covered Call
Every out-of-the-money HIMS 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 $29.00 strike at 7.2% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
HIMS covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $28.00 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 |
|---|---|---|---|---|---|---|---|
| $29.00 | 3.6% | $2.02 | 7.2% | 73.0% | $25.99 | 10.8% | 191 |
| $31.00 | 10.7% | $1.36 | 4.8% | 49.1% | $26.65 | 15.6% | 71 |
What the $29.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $28.00. Profit caps at $301.50 if HIMS finishes above $29.00; below $25.99 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $21.00 | $-4.98 | $-498.50 |
| $22.75 | $-3.24 | $-323.50 |
| $24.50 | $-1.48 | $-148.50 |
| $26.25 | +$0.27 | +$26.50 |
| $28.00 | +$2.02 | +$201.50 |
| $29.75 | +$3.02 | +$301.50 |
| $31.50 | +$3.02 | +$301.50 |
| $33.25 | +$3.02 | +$301.50 |
| $35.00 | +$3.02 | +$301.50 |
When a covered call fits HIMS
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 HIMS 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 HIMS loaded.
Questions
- What does a HIMS covered call pay right now?
- The $29.00 call expiring Oct 23, 2026 (36 days out) collects $2.02 per share, 7.2% of the $28.00 share price, or 73.0% annualised if you repeat it.
- What is the break-even on a HIMS covered call?
- Selling the $29.00 call against stock bought at $28.00 breaks even at $25.99 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if HIMS closes above the strike?
- The shares are called away at $29.00. Total return is 10.8%: the premium plus the move from $28.00 up to the strike. Gains above the strike belong to the buyer.
More on HIMS
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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.