SIRI Covered Call
Every out-of-the-money SIRI 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 $30.00 strike at 2.2% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
SIRI covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $28.56 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 |
|---|---|---|---|---|---|---|---|
| $30.00 | 5.0% | $0.63 | 2.2% | 22.2% | $27.94 | 7.2% | 12 |
| $31.00 | 8.5% | $0.49 | 1.7% | 17.4% | $28.07 | 10.3% | 3 |
What the $30.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $28.56. Profit caps at $206.50 if SIRI finishes above $30.00; below $27.94 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $21.42 | $-6.52 | $-651.50 |
| $23.21 | $-4.73 | $-473.00 |
| $24.99 | $-2.95 | $-294.50 |
| $26.78 | $-1.16 | $-116.00 |
| $28.56 | +$0.62 | +$62.50 |
| $30.35 | +$2.07 | +$206.50 |
| $32.13 | +$2.07 | +$206.50 |
| $33.91 | +$2.07 | +$206.50 |
| $35.70 | +$2.07 | +$206.50 |
When a covered call fits SIRI
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 SIRI 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 SIRI loaded.
Questions
- What does a SIRI covered call pay right now?
- The $30.00 call expiring Oct 23, 2026 (36 days out) collects $0.63 per share, 2.2% of the $28.56 share price, or 22.2% annualised if you repeat it.
- What is the break-even on a SIRI covered call?
- Selling the $30.00 call against stock bought at $28.56 breaks even at $27.94 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if SIRI closes above the strike?
- The shares are called away at $30.00. Total return is 7.2%: the premium plus the move from $28.56 up to the strike. Gains above the strike belong to the buyer.
More on SIRI
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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.