URA Covered Call
Every out-of-the-money URA 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 $42.50 strike at 4.4% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
URA covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $41.37 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 |
|---|---|---|---|---|---|---|---|
| $42.50 | 2.7% | $1.83 | 4.4% | 44.7% | $39.54 | 7.1% | 0 |
| $43.50 | 5.1% | $1.58 | 3.8% | 38.6% | $39.79 | 9.0% | 5 |
| $45.50 | 10.0% | $1.10 | 2.7% | 27.0% | $40.27 | 12.6% | 0 |
What the $42.50 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $41.37. Profit caps at $295.50 if URA finishes above $42.50; below $39.54 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $31.03 | $-8.52 | $-851.75 |
| $33.61 | $-5.93 | $-593.19 |
| $36.20 | $-3.35 | $-334.63 |
| $38.78 | $-0.76 | $-76.06 |
| $41.37 | +$1.83 | +$182.50 |
| $43.96 | +$2.96 | +$295.50 |
| $46.54 | +$2.96 | +$295.50 |
| $49.13 | +$2.96 | +$295.50 |
| $51.71 | +$2.96 | +$295.50 |
When a covered call fits URA
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 URA 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 URA loaded.
Questions
- What does a URA covered call pay right now?
- The $42.50 call expiring Oct 23, 2026 (36 days out) collects $1.83 per share, 4.4% of the $41.37 share price, or 44.7% annualised if you repeat it.
- What is the break-even on a URA covered call?
- Selling the $42.50 call against stock bought at $41.37 breaks even at $39.54 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if URA closes above the strike?
- The shares are called away at $42.50. Total return is 7.1%: the premium plus the move from $41.37 up to the strike. Gains above the strike belong to the buyer.
More on URA
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.