LUNR Covered Call
Every out-of-the-money LUNR 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 $14.50 strike at 8.4% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
LUNR covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $13.87 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 |
|---|---|---|---|---|---|---|---|
| $14.50 | 4.5% | $1.17 | 8.4% | 85.2% | $12.70 | 12.9% | 24 |
| $15.50 | 11.8% | $0.87 | 6.2% | 63.2% | $13.00 | 18.0% | 41 |
What the $14.50 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $13.87. Profit caps at $179.50 if LUNR finishes above $14.50; below $12.70 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $10.40 | $-2.30 | $-230.25 |
| $11.27 | $-1.44 | $-143.56 |
| $12.14 | $-0.57 | $-56.87 |
| $13.00 | +$0.30 | +$29.81 |
| $13.87 | +$1.17 | +$116.50 |
| $14.74 | +$1.80 | +$179.50 |
| $15.60 | +$1.80 | +$179.50 |
| $16.47 | +$1.80 | +$179.50 |
| $17.34 | +$1.80 | +$179.50 |
When a covered call fits LUNR
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 LUNR 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 LUNR loaded.
Questions
- What does a LUNR covered call pay right now?
- The $14.50 call expiring Oct 23, 2026 (36 days out) collects $1.17 per share, 8.4% of the $13.87 share price, or 85.2% annualised if you repeat it.
- What is the break-even on a LUNR covered call?
- Selling the $14.50 call against stock bought at $13.87 breaks even at $12.70 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if LUNR closes above the strike?
- The shares are called away at $14.50. Total return is 12.9%: the premium plus the move from $13.87 up to the strike. Gains above the strike belong to the buyer.
More on LUNR
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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.