NOK Covered Call
Every out-of-the-money NOK 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 $10.50 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.
NOK covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $10.14 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 |
|---|---|---|---|---|---|---|---|
| $10.50 | 3.6% | $0.73 | 7.2% | 73.0% | $9.41 | 10.7% | 79 |
| $11.00 | 8.5% | $0.52 | 5.2% | 52.5% | $9.62 | 13.7% | 1,894 |
What the $10.50 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $10.14. Profit caps at $109.00 if NOK finishes above $10.50; below $9.41 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $7.61 | $-1.81 | $-180.50 |
| $8.24 | $-1.17 | $-117.13 |
| $8.87 | $-0.54 | $-53.75 |
| $9.51 | +$0.10 | +$9.63 |
| $10.14 | +$0.73 | +$73.00 |
| $10.77 | +$1.09 | +$109.00 |
| $11.41 | +$1.09 | +$109.00 |
| $12.04 | +$1.09 | +$109.00 |
| $12.68 | +$1.09 | +$109.00 |
When a covered call fits NOK
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 NOK 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 NOK loaded.
Questions
- What does a NOK covered call pay right now?
- The $10.50 call expiring Oct 23, 2026 (36 days out) collects $0.73 per share, 7.2% of the $10.14 share price, or 73.0% annualised if you repeat it.
- What is the break-even on a NOK covered call?
- Selling the $10.50 call against stock bought at $10.14 breaks even at $9.41 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if NOK closes above the strike?
- The shares are called away at $10.50. Total return is 10.7%: the premium plus the move from $10.14 up to the strike. Gains above the strike belong to the buyer.
More on NOK
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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.