RIVN Covered Call
Every out-of-the-money RIVN 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 $15.50 strike at 6.2% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
RIVN covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $15.23 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 |
|---|---|---|---|---|---|---|---|
| $15.50 | 1.8% | $0.95 | 6.2% | 63.2% | $14.28 | 8.0% | 35 |
| $16.00 | 5.1% | $0.74 | 4.9% | 49.3% | $14.49 | 9.9% | 79 |
| $17.00 | 11.6% | $0.59 | 3.9% | 39.3% | $14.64 | 15.5% | 89 |
What the $15.50 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $15.23. Profit caps at $122.00 if RIVN finishes above $15.50; below $14.28 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $11.42 | $-2.86 | $-285.75 |
| $12.37 | $-1.91 | $-190.56 |
| $13.33 | $-0.95 | $-95.38 |
| $14.28 | $-0.00 | $-0.19 |
| $15.23 | +$0.95 | +$95.00 |
| $16.18 | +$1.22 | +$122.00 |
| $17.13 | +$1.22 | +$122.00 |
| $18.09 | +$1.22 | +$122.00 |
| $19.04 | +$1.22 | +$122.00 |
When a covered call fits RIVN
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 RIVN 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 RIVN loaded.
Questions
- What does a RIVN covered call pay right now?
- The $15.50 call expiring Oct 23, 2026 (36 days out) collects $0.95 per share, 6.2% of the $15.23 share price, or 63.2% annualised if you repeat it.
- What is the break-even on a RIVN covered call?
- Selling the $15.50 call against stock bought at $15.23 breaks even at $14.28 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if RIVN closes above the strike?
- The shares are called away at $15.50. Total return is 8.0%: the premium plus the move from $15.23 up to the strike. Gains above the strike belong to the buyer.
More on RIVN
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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.