KKR Covered Call
Every out-of-the-money KKR 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 $100.00 strike at 3.8% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
KKR covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $96.84 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 |
|---|---|---|---|---|---|---|---|
| $100.00 | 3.3% | $3.68 | 3.8% | 38.5% | $93.17 | 7.1% | 0 |
| $103.00 | 6.4% | $2.65 | 2.7% | 27.7% | $94.19 | 9.1% | 3 |
| $105.00 | 8.4% | $2.03 | 2.1% | 21.2% | $94.82 | 10.5% | 0 |
What the $100.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $96.84. Profit caps at $683.50 if KKR finishes above $100.00; below $93.17 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $72.63 | $-20.54 | $-2,053.50 |
| $78.68 | $-14.48 | $-1,448.25 |
| $84.74 | $-8.43 | $-843.00 |
| $90.79 | $-2.38 | $-237.75 |
| $96.84 | +$3.68 | +$367.50 |
| $102.89 | +$6.83 | +$683.50 |
| $108.95 | +$6.83 | +$683.50 |
| $115.00 | +$6.83 | +$683.50 |
| $121.05 | +$6.83 | +$683.50 |
When a covered call fits KKR
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 KKR 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 KKR loaded.
Questions
- What does a KKR covered call pay right now?
- The $100.00 call expiring Oct 23, 2026 (36 days out) collects $3.68 per share, 3.8% of the $96.84 share price, or 38.5% annualised if you repeat it.
- What is the break-even on a KKR covered call?
- Selling the $100.00 call against stock bought at $96.84 breaks even at $93.17 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if KKR closes above the strike?
- The shares are called away at $100.00. Total return is 7.1%: the premium plus the move from $96.84 up to the strike. Gains above the strike belong to the buyer.
More on KKR
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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.