QUBT Covered Call
Every out-of-the-money QUBT 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 $8.50 strike at 5.8% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
QUBT covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $8.00 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 |
|---|---|---|---|---|---|---|---|
| $8.50 | 6.3% | $0.46 | 5.8% | 58.3% | $7.54 | 12.0% | 17 |
| $9.00 | 12.5% | $0.22 | 2.8% | 27.9% | $7.78 | 15.3% | 56 |
What the $8.50 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $8.00. Profit caps at $96.00 if QUBT finishes above $8.50; below $7.54 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $6.00 | $-1.54 | $-154.00 |
| $6.50 | $-1.04 | $-104.00 |
| $7.00 | $-0.54 | $-54.00 |
| $7.50 | $-0.04 | $-4.00 |
| $8.00 | +$0.46 | +$46.00 |
| $8.50 | +$0.96 | +$96.00 |
| $9.00 | +$0.96 | +$96.00 |
| $9.50 | +$0.96 | +$96.00 |
| $10.00 | +$0.96 | +$96.00 |
When a covered call fits QUBT
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 QUBT 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 QUBT loaded.
Questions
- What does a QUBT covered call pay right now?
- The $8.50 call expiring Oct 23, 2026 (36 days out) collects $0.46 per share, 5.8% of the $8.00 share price, or 58.3% annualised if you repeat it.
- What is the break-even on a QUBT covered call?
- Selling the $8.50 call against stock bought at $8.00 breaks even at $7.54 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if QUBT closes above the strike?
- The shares are called away at $8.50. Total return is 12.0%: the premium plus the move from $8.00 up to the strike. Gains above the strike belong to the buyer.
More on QUBT
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.