VRT Covered Call
Every out-of-the-money VRT 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 $245.00 strike at 6.5% over 36 days.
Open interest and pricing as of the close on 2026-09-16. Recomputed every morning before the open.
VRT covered call candidates — Oct 23, 2026, 36 days out
Strikes are picked by distance from the $239.41 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 |
|---|---|---|---|---|---|---|---|
| $245.00 | 2.3% | $15.48 | 6.5% | 65.5% | $223.94 | 8.8% | 5 |
| $250.00 | 4.4% | $13.80 | 5.8% | 58.4% | $225.61 | 10.2% | 84 |
| $265.00 | 10.7% | $8.80 | 3.7% | 37.3% | $230.61 | 14.4% | 32 |
What the $245.00 call pays at expiration
One illustrative strike — the richest premium in the table — against 100 shares bought at $239.41. Profit caps at $2,106.50 if VRT finishes above $245.00; below $223.94 the premium stops covering the loss on the stock.
| Stock at expiration | Profit / loss per share | On 100 shares |
|---|---|---|
| $179.56 | $-44.38 | $-4,437.75 |
| $194.52 | $-29.41 | $-2,941.44 |
| $209.48 | $-14.45 | $-1,445.13 |
| $224.45 | +$0.51 | +$51.19 |
| $239.41 | +$15.48 | +$1,547.50 |
| $254.37 | +$21.07 | +$2,106.50 |
| $269.34 | +$21.07 | +$2,106.50 |
| $284.30 | +$21.07 | +$2,106.50 |
| $299.26 | +$21.07 | +$2,106.50 |
When a covered call fits VRT
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 VRT 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 VRT loaded.
Questions
- What does a VRT covered call pay right now?
- The $245.00 call expiring Oct 23, 2026 (36 days out) collects $15.48 per share, 6.5% of the $239.41 share price, or 65.5% annualised if you repeat it.
- What is the break-even on a VRT covered call?
- Selling the $245.00 call against stock bought at $239.41 breaks even at $223.94 — the share price less the premium. Below that the premium no longer covers the loss on the shares.
- What happens if VRT closes above the strike?
- The shares are called away at $245.00. Total return is 8.8%: the premium plus the move from $239.41 up to the strike. Gains above the strike belong to the buyer.
More on VRT
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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.