ONDS Covered Call
Every out-of-the-money ONDS 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 $7.50 strike at 7.3% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
ONDS covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $7.20 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 |
|---|---|---|---|---|---|---|---|
| $7.50 | 4.2% | $0.53 | 7.3% | 73.9% | $6.68 | 11.5% | 138 |
| $8.00 | 11.1% | $0.38 | 5.3% | 53.5% | $6.82 | 16.4% | 410 |
What the $7.50 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $7.20. Profit caps at $82.50 if ONDS finishes above $7.50; below $6.68 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $5.40 | $-1.28 | $-127.50 |
| $5.85 | $-0.82 | $-82.50 |
| $6.30 | $-0.37 | $-37.50 |
| $6.75 | +$0.07 | +$7.50 |
| $7.20 | +$0.53 | +$52.50 |
| $7.65 | +$0.82 | +$82.50 |
| $8.10 | +$0.82 | +$82.50 |
| $8.55 | +$0.82 | +$82.50 |
| $9.00 | +$0.82 | +$82.50 |
When a covered call fits ONDS
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 ONDS 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 ONDS loaded.
Questions
- What does a ONDS covered call pay right now?
- The $7.50 call expiring Oct 23, 2026 (36 days out) collects $0.53 per share, 7.3% of the $7.20 share price, or 73.9% annualised if you repeat it.
- What is the break-even on a ONDS covered call?
- Selling the $7.50 call against stock bought at $7.20 breaks even at $6.68 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if ONDS closes above the strike?
- The shares are called away at $7.50. Total return is 11.5%: the premium plus the move from $7.20 up to the strike. Gains above the strike belong to the buyer.
More on ONDS
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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.