ORCL Covered Call
Every out-of-the-money ORCL 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 $147.00 strike at 5.2% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
ORCL covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $143.16 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 |
|---|---|---|---|---|---|---|---|
| $147.00 | 2.7% | $7.50 | 5.2% | 53.1% | $135.66 | 7.9% | 29 |
| $150.00 | 4.8% | $6.40 | 4.5% | 45.3% | $136.76 | 9.2% | 1,372 |
| $157.50 | 10.0% | $4.32 | 3.0% | 30.6% | $138.84 | 13.0% | 172 |
What the $147.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $143.16. Profit caps at $1,134.00 if ORCL finishes above $147.00; below $135.66 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $107.37 | $-28.29 | $-2,829.00 |
| $116.32 | $-19.34 | $-1,934.25 |
| $125.27 | $-10.39 | $-1,039.50 |
| $134.21 | $-1.45 | $-144.75 |
| $143.16 | +$7.50 | +$750.00 |
| $152.11 | +$11.34 | +$1,134.00 |
| $161.06 | +$11.34 | +$1,134.00 |
| $170.00 | +$11.34 | +$1,134.00 |
| $178.95 | +$11.34 | +$1,134.00 |
When a covered call fits ORCL
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 ORCL 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 ORCL loaded.
Questions
- What does a ORCL covered call pay right now?
- The $147.00 call expiring Oct 23, 2026 (36 days out) collects $7.50 per share, 5.2% of the $143.16 share price, or 53.1% annualised if you repeat it.
- What is the break-even on a ORCL covered call?
- Selling the $147.00 call against stock bought at $143.16 breaks even at $135.66 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if ORCL closes above the strike?
- The shares are called away at $147.00. Total return is 7.9%: the premium plus the move from $143.16 up to the strike. Gains above the strike belong to the buyer.
More on ORCL
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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.