JETS Covered Call
Every out-of-the-money JETS 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 $28.50 strike at 3.4% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
JETS covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $27.80 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 |
|---|---|---|---|---|---|---|---|
| $28.50 | 2.5% | $0.94 | 3.4% | 34.1% | $26.87 | 5.9% | 1 |
| $29.00 | 4.3% | $0.85 | 3.0% | 30.8% | $26.96 | 7.4% | 394 |
| $30.50 | 9.7% | $0.48 | 1.7% | 17.3% | $27.33 | 11.4% | 0 |
What the $28.50 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $27.80. Profit caps at $163.50 if JETS finishes above $28.50; below $26.87 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $20.85 | $-6.01 | $-601.50 |
| $22.59 | $-4.28 | $-427.75 |
| $24.33 | $-2.54 | $-254.00 |
| $26.06 | $-0.80 | $-80.25 |
| $27.80 | +$0.94 | +$93.50 |
| $29.54 | +$1.63 | +$163.50 |
| $31.28 | +$1.63 | +$163.50 |
| $33.01 | +$1.63 | +$163.50 |
| $34.75 | +$1.63 | +$163.50 |
When a covered call fits JETS
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 JETS 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 JETS loaded.
Questions
- What does a JETS covered call pay right now?
- The $28.50 call expiring Oct 23, 2026 (36 days out) collects $0.94 per share, 3.4% of the $27.80 share price, or 34.1% annualised if you repeat it.
- What is the break-even on a JETS covered call?
- Selling the $28.50 call against stock bought at $27.80 breaks even at $26.87 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if JETS closes above the strike?
- The shares are called away at $28.50. Total return is 5.9%: the premium plus the move from $27.80 up to the strike. Gains above the strike belong to the buyer.
More on JETS
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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.