QCOM Covered Call
Every out-of-the-money QCOM 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 $190.00 strike at 5.0% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
QCOM covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $184.84 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 |
|---|---|---|---|---|---|---|---|
| $190.00 | 2.8% | $9.28 | 5.0% | 50.9% | $175.57 | 7.8% | 100 |
| $195.00 | 5.5% | $7.32 | 4.0% | 40.2% | $177.52 | 9.5% | 28 |
| $205.00 | 10.9% | $4.55 | 2.5% | 25.0% | $180.29 | 13.4% | 167 |
What the $190.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $184.84. Profit caps at $1,443.50 if QCOM finishes above $190.00; below $175.57 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $138.63 | $-36.94 | $-3,693.50 |
| $150.18 | $-25.38 | $-2,538.25 |
| $161.74 | $-13.83 | $-1,383.00 |
| $173.29 | $-2.28 | $-227.75 |
| $184.84 | +$9.28 | +$927.50 |
| $196.39 | +$14.43 | +$1,443.50 |
| $207.95 | +$14.43 | +$1,443.50 |
| $219.50 | +$14.43 | +$1,443.50 |
| $231.05 | +$14.43 | +$1,443.50 |
When a covered call fits QCOM
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 QCOM 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 QCOM loaded.
Questions
- What does a QCOM covered call pay right now?
- The $190.00 call expiring Oct 23, 2026 (36 days out) collects $9.28 per share, 5.0% of the $184.84 share price, or 50.9% annualised if you repeat it.
- What is the break-even on a QCOM covered call?
- Selling the $190.00 call against stock bought at $184.84 breaks even at $175.57 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if QCOM closes above the strike?
- The shares are called away at $190.00. Total return is 7.8%: the premium plus the move from $184.84 up to the strike. Gains above the strike belong to the buyer.
More on QCOM
Run the numbers
Weekly options-market digest
Sundays. What moved this week, what catalysts and earnings drive next week, and which 5-pillar setups stand out.
Free. One email per week. Unsubscribe with one click.
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.