RIOT Covered Call
Every out-of-the-money RIOT 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 $21.00 strike at 7.9% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
RIOT covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $20.35 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 |
|---|---|---|---|---|---|---|---|
| $21.00 | 3.2% | $1.61 | 7.9% | 80.0% | $18.75 | 11.1% | 69 |
| $22.00 | 8.1% | $1.43 | 7.0% | 71.2% | $18.92 | 15.1% | 288 |
What the $21.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $20.35. Profit caps at $225.50 if RIOT finishes above $21.00; below $18.75 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $15.26 | $-3.48 | $-348.25 |
| $16.53 | $-2.21 | $-221.06 |
| $17.81 | $-0.94 | $-93.87 |
| $19.08 | +$0.33 | +$33.31 |
| $20.35 | +$1.61 | +$160.50 |
| $21.62 | +$2.25 | +$225.50 |
| $22.89 | +$2.25 | +$225.50 |
| $24.17 | +$2.25 | +$225.50 |
| $25.44 | +$2.25 | +$225.50 |
When a covered call fits RIOT
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 RIOT 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 RIOT loaded.
Questions
- What does a RIOT covered call pay right now?
- The $21.00 call expiring Oct 23, 2026 (36 days out) collects $1.61 per share, 7.9% of the $20.35 share price, or 80.0% annualised if you repeat it.
- What is the break-even on a RIOT covered call?
- Selling the $21.00 call against stock bought at $20.35 breaks even at $18.75 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if RIOT closes above the strike?
- The shares are called away at $21.00. Total return is 11.1%: the premium plus the move from $20.35 up to the strike. Gains above the strike belong to the buyer.
More on RIOT
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.