Best Stocks for the Poor Man's Covered Call (PMCC) in 2026 (Ranked & Updated)

The best stocks for a poor man's covered call (PMCC) are liquid, steadily uptrending names with deep LEAPS markets — because the strategy replaces 100 shares with a long-dated, deep-in-the-money call. That makes the ideal PMCC ticker different from a regular covered call name: you need long-dated options that are liquid and a stock you expect to grind higher, not just sit still. This guide covers what to screen for, a quick-compare table of 2026 candidates, and the risks unique to running the trade on each.

Last reviewed June 2026. We refresh this list monthly. LEAPS liquidity and trend matter most — confirm the long-dated chain, current IV, and the next earnings date before you open a PMCC.

Why PMCC Stocks Are Different

A poor man's covered call replaces the 100 shares of a normal covered call with a deep-in-the-money LEAPS call — a long-dated option that acts as a stock substitute at roughly one-third the capital. That changes what you want from the underlying. Because the long leg is an option that decays and expires, a flat or falling stock hurts a PMCC more than it hurts a share-backed covered call. The best PMCC names trend steadily higher, have liquid long-dated options, and don't gap violently on every headline.

What to Screen For in a PMCC Stock

• Deep, liquid LEAPS. You need tight spreads on options 9–12+ months out. Only the most heavily traded names have genuinely liquid LEAPS.
• A steady uptrend, not a coin flip. The long LEAPS needs the stock to hold or rise. High-flying names that round-trip 30% are hard to run a PMCC on.
• Moderate IV. Very high IV makes the LEAPS expensive to buy, eroding the capital-efficiency advantage. Mega-cap tech in a 25–40% IV band is the classic fit.
• A price that makes shares impractical. The PMCC shines on names where 100 shares would tie up $20k–$60k, freeing capital for other positions.

Best PMCC Stocks in 2026 at a Glance

Educational examples, not investment recommendations. IV ranges are typical, not live — always confirm the LEAPS chain, current implied volatility, and the next earnings date first.

PMCC Stock Picks for 2026

1. Apple (AAPL) & Microsoft (MSFT)

The textbook PMCC names: steady long-term uptrends, the deepest LEAPS markets outside the index ETFs, and moderate IV that keeps the long call affordable. See the AAPL and MSFT calculators for the short-call leg.

2. Alphabet (GOOGL)

Liquid long-dated options and a moderate IV profile make GOOGL a clean PMCC, with a high enough share price that the capital savings versus 100 shares are substantial. Check the GOOGL covered call calculator.

3. NVDA & AMD

The higher-IV semiconductors. The trend has been strong, but elevated IV makes the LEAPS more expensive and the position more sensitive to a pullback. NVDA and AMD reward conviction but demand tighter risk management than the mega-cap names.

Managing PMCC Risk

The PMCC adds two risks a normal covered call doesn't have: the long LEAPS decays and can lose value if the stock falls, and a sharp gap above your short strike can cost you if the LEAPS hasn't appreciated enough to cover it. Buy the long call deep in the money (delta ~0.80+), sell the short call at a ~0.20–0.30 delta, and apply disciplined rolling on the short leg. Track both legs so your real cost basis and net premium stay accurate.

Find PMCC Setups Automatically

Use the free CoverEdge covered call screener to find the short-call leg of your PMCC across 200+ tickers. For the full strategy mechanics, read the poor man's covered call explained, and for the broader candidate list, the best stocks for covered calls.