V Covered Call
Every out-of-the-money V 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 $380.00 strike at 1.7% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
V covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $370.93 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 |
|---|---|---|---|---|---|---|---|
| $380.00 | 2.4% | $6.20 | 1.7% | 16.9% | $364.73 | 4.1% | 75 |
| $390.00 | 5.1% | $3.30 | 0.9% | 9.0% | $367.63 | 6.0% | 229 |
| $410.00 | 10.5% | $0.75 | 0.2% | 2.0% | $370.19 | 10.7% | 37 |
What the $380.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $370.93. Profit caps at $1,527.00 if V finishes above $380.00; below $364.73 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $278.20 | $-86.53 | $-8,653.25 |
| $301.38 | $-63.35 | $-6,334.94 |
| $324.56 | $-40.17 | $-4,016.62 |
| $347.75 | $-16.98 | $-1,698.31 |
| $370.93 | +$6.20 | +$620.00 |
| $394.11 | +$15.27 | +$1,527.00 |
| $417.30 | +$15.27 | +$1,527.00 |
| $440.48 | +$15.27 | +$1,527.00 |
| $463.66 | +$15.27 | +$1,527.00 |
When a covered call fits V
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 V 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 V loaded.
Questions
- What does a V covered call pay right now?
- The $380.00 call expiring Oct 23, 2026 (36 days out) collects $6.20 per share, 1.7% of the $370.93 share price, or 16.9% annualised if you repeat it.
- What is the break-even on a V covered call?
- Selling the $380.00 call against stock bought at $370.93 breaks even at $364.73 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if V closes above the strike?
- The shares are called away at $380.00. Total return is 4.1%: the premium plus the move from $370.93 up to the strike. Gains above the strike belong to the buyer.
More on V
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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.