NVDA Covered Call
Every out-of-the-money NVDA call expiring Sep 30, 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 $220.00 strike at 1.4% over 13 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
NVDA covered call candidates — Sep 30, 2026, 13 days out
Strikes are picked by distance from the $213.90 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 — 13 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 |
|---|---|---|---|---|---|---|---|
| $220.00 | 2.9% | $2.97 | 1.4% | 39.1% | $210.93 | 4.2% | 135 |
| $225.00 | 5.2% | $1.63 | 0.8% | 21.4% | $212.27 | 6.0% | 310 |
| $235.00 | 9.9% | $0.43 | 0.2% | 5.6% | $213.47 | 10.1% | 75 |
What the $220.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $213.90. Profit caps at $907.50 if NVDA finishes above $220.00; below $210.93 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $160.43 | $-50.50 | $-5,050.00 |
| $173.79 | $-37.13 | $-3,713.12 |
| $187.16 | $-23.76 | $-2,376.25 |
| $200.53 | $-10.39 | $-1,039.38 |
| $213.90 | +$2.97 | +$297.50 |
| $227.27 | +$9.07 | +$907.50 |
| $240.64 | +$9.07 | +$907.50 |
| $254.01 | +$9.07 | +$907.50 |
| $267.38 | +$9.07 | +$907.50 |
When a covered call fits NVDA
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 NVDA 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 NVDA loaded.
Questions
- What does a NVDA covered call pay right now?
- The $220.00 call expiring Sep 30, 2026 (13 days out) collects $2.97 per share, 1.4% of the $213.90 share price, or 39.1% annualised if you repeat it.
- What is the break-even on a NVDA covered call?
- Selling the $220.00 call against stock bought at $213.90 breaks even at $210.93 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if NVDA closes above the strike?
- The shares are called away at $220.00. Total return is 4.2%: the premium plus the move from $213.90 up to the strike. Gains above the strike belong to the buyer.
More on NVDA
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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.