UUUU Covered Call
Every out-of-the-money UUUU 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 $12.00 strike at 8.3% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
UUUU covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $11.73 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 |
|---|---|---|---|---|---|---|---|
| $12.00 | 2.3% | $0.97 | 8.3% | 83.8% | $10.76 | 10.6% | 6 |
| $12.50 | 6.6% | $0.78 | 6.6% | 67.0% | $10.96 | 13.2% | 31 |
| $13.00 | 10.8% | $0.64 | 5.4% | 54.9% | $11.10 | 16.2% | 32 |
What the $12.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $11.73. Profit caps at $124.00 if UUUU finishes above $12.00; below $10.76 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $8.80 | $-1.96 | $-196.25 |
| $9.53 | $-1.23 | $-122.94 |
| $10.26 | $-0.50 | $-49.63 |
| $11.00 | +$0.24 | +$23.69 |
| $11.73 | +$0.97 | +$97.00 |
| $12.46 | +$1.24 | +$124.00 |
| $13.20 | +$1.24 | +$124.00 |
| $13.93 | +$1.24 | +$124.00 |
| $14.66 | +$1.24 | +$124.00 |
When a covered call fits UUUU
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 UUUU 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 UUUU loaded.
Questions
- What does a UUUU covered call pay right now?
- The $12.00 call expiring Oct 23, 2026 (36 days out) collects $0.97 per share, 8.3% of the $11.73 share price, or 83.8% annualised if you repeat it.
- What is the break-even on a UUUU covered call?
- Selling the $12.00 call against stock bought at $11.73 breaks even at $10.76 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if UUUU closes above the strike?
- The shares are called away at $12.00. Total return is 10.6%: the premium plus the move from $11.73 up to the strike. Gains above the strike belong to the buyer.
More on UUUU
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.