STX Covered Call
Every out-of-the-money STX 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 $805.00 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.
STX covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $783.18 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 |
|---|---|---|---|---|---|---|---|
| $805.00 | 2.8% | $55.50 | 7.1% | 71.8% | $727.68 | 9.9% | 1 |
| $820.00 | 4.7% | $51.15 | 6.5% | 66.2% | $732.03 | 11.2% | 2 |
| $860.00 | 9.8% | $38.95 | 5.0% | 50.4% | $744.23 | 14.8% | 0 |
What the $805.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $783.18. Profit caps at $7,732.00 if STX finishes above $805.00; below $727.68 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $587.39 | $-140.29 | $-14,029.50 |
| $636.33 | $-91.35 | $-9,134.62 |
| $685.28 | $-42.40 | $-4,239.75 |
| $734.23 | +$6.55 | +$655.12 |
| $783.18 | +$55.50 | +$5,550.00 |
| $832.13 | +$77.32 | +$7,732.00 |
| $881.08 | +$77.32 | +$7,732.00 |
| $930.03 | +$77.32 | +$7,732.00 |
| $978.97 | +$77.32 | +$7,732.00 |
When a covered call fits STX
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 STX 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 STX loaded.
Questions
- What does a STX covered call pay right now?
- The $805.00 call expiring Oct 23, 2026 (36 days out) collects $55.50 per share, 7.1% of the $783.18 share price, or 71.8% annualised if you repeat it.
- What is the break-even on a STX covered call?
- Selling the $805.00 call against stock bought at $783.18 breaks even at $727.68 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if STX closes above the strike?
- The shares are called away at $805.00. Total return is 9.9%: the premium plus the move from $783.18 up to the strike. Gains above the strike belong to the buyer.
More on STX
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.