TSLA Covered Call
Every out-of-the-money TSLA call expiring Sep 30, 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 $370.00 strike at 1.9% over 13 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
TSLA covered call candidates — Sep 30, 2026, 13 days out
Strikes are picked by distance from the $358.08 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 — 13 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 |
|---|---|---|---|---|---|---|---|
| $370.00 | 3.3% | $6.90 | 1.9% | 54.1% | $351.18 | 5.3% | 91 |
| $375.00 | 4.7% | $5.40 | 1.5% | 42.3% | $352.68 | 6.2% | 33 |
| $395.00 | 10.3% | $1.96 | 0.5% | 15.4% | $356.12 | 10.9% | 28 |
What the $370.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $358.08. Profit caps at $1,882.00 if TSLA finishes above $370.00; below $351.18 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $268.56 | $-82.62 | $-8,262.00 |
| $290.94 | $-60.24 | $-6,024.00 |
| $313.32 | $-37.86 | $-3,786.00 |
| $335.70 | $-15.48 | $-1,548.00 |
| $358.08 | +$6.90 | +$690.00 |
| $380.46 | +$18.82 | +$1,882.00 |
| $402.84 | +$18.82 | +$1,882.00 |
| $425.22 | +$18.82 | +$1,882.00 |
| $447.60 | +$18.82 | +$1,882.00 |
When a covered call fits TSLA
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 TSLA 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 TSLA loaded.
Questions
- What does a TSLA covered call pay right now?
- The $370.00 call expiring Sep 30, 2026 (13 days out) collects $6.90 per share, 1.9% of the $358.08 share price, or 54.1% annualised if you repeat it.
- What is the break-even on a TSLA covered call?
- Selling the $370.00 call against stock bought at $358.08 breaks even at $351.18 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if TSLA closes above the strike?
- The shares are called away at $370.00. Total return is 5.3%: the premium plus the move from $358.08 up to the strike. Gains above the strike belong to the buyer.
More on TSLA
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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.