QXO Covered Call
Every out-of-the-money QXO 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 $11.50 strike at 7.1% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
QXO covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $11.27 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 |
|---|---|---|---|---|---|---|---|
| $11.50 | 2.0% | $0.80 | 7.1% | 72.0% | $10.47 | 9.1% | 2 |
| $12.00 | 6.5% | $0.60 | 5.3% | 54.0% | $10.67 | 11.8% | 24 |
| $12.50 | 10.9% | $0.45 | 4.0% | 40.5% | $10.82 | 14.9% | 3 |
What the $11.50 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $11.27. Profit caps at $103.00 if QXO finishes above $11.50; below $10.47 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $8.45 | $-2.02 | $-201.75 |
| $9.16 | $-1.31 | $-131.31 |
| $9.86 | $-0.61 | $-60.87 |
| $10.57 | +$0.10 | +$9.56 |
| $11.27 | +$0.80 | +$80.00 |
| $11.97 | +$1.03 | +$103.00 |
| $12.68 | +$1.03 | +$103.00 |
| $13.38 | +$1.03 | +$103.00 |
| $14.09 | +$1.03 | +$103.00 |
When a covered call fits QXO
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 QXO 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 QXO loaded.
Questions
- What does a QXO covered call pay right now?
- The $11.50 call expiring Oct 23, 2026 (36 days out) collects $0.80 per share, 7.1% of the $11.27 share price, or 72.0% annualised if you repeat it.
- What is the break-even on a QXO covered call?
- Selling the $11.50 call against stock bought at $11.27 breaks even at $10.47 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if QXO closes above the strike?
- The shares are called away at $11.50. Total return is 9.1%: the premium plus the move from $11.27 up to the strike. Gains above the strike belong to the buyer.
More on QXO
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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.