Live option-chain quotes. Annualized yield, breakeven, and assignment P&L for 195+ of the most-traded tickers — instantly.
Pick a ticker to begin
Each contract = 100 shares (so 100 shares).
Defaults to current price if you don't own the stock yet.
Auto-fills to the chain mid. Override with your actual fill price for accurate results.
This calculator answers the “what if” question on a single trade. CoverEdge answers it across your whole book — every position, every roll, every premium dollar — without a spreadsheet.
SnapTrade pulls every option fill, expiration, and assignment into CoverEdge automatically. No CSV uploads.
Managed AI scans your whole book daily and surfaces the highest-EV rolls — with strike, expiration, and net credit pre-calculated.
Every premium, close, and assignment hits an immutable ledger. Reconciliation is built in. Tax season becomes a 5-minute export.
A covered call is the simplest options-income trade: you own at least 100 shares of a stock, and you sell a call option against them. The buyer pays you a premium for the right (not the obligation) to buy your shares at the strike price by the expiration date. If the stock stays below the strike at expiration, the call expires worthless and you keep both the premium and the shares — that's the “return if flat” the calculator shows. If the stock finishes above the strike, your shares get called away at the strike price, and you bank the premium plus the capital gain on the stock — that's the “if called away” row.
Most covered-call sellers target a strike with delta between 0.20 and 0.35, which corresponds to roughly a 65–80% chance the call expires worthless. The strike dropdown shows the live delta for each contract so you can dial in the risk profile you want. Expirations 21–45 days out tend to offer the best balance of theta decay and time-to-be- wrong; the calculator defaults to the closest expiration in that window.
This is a single-trade projection tool. It assumes you hold the position until expiration and either keep the shares or get assigned. Real-world covered-call income tracking has to account for: rolls (closing one call and opening another), partial fills, early assignment, dividend capture, wash-sale rules, and tax lot accounting. That's where CoverEdge comes in — every one of those events lands in an immutable ledger and feeds the dashboard automatically. Start a free 14-day trial below (no card) when you're ready for the real thing.
Pick a ticker, set how many contracts you want to sell, choose an expiration and strike, and the calculator pulls live option-chain quotes to compute your premium received, breakeven, capital at risk, return-if-flat, return-if-called, and annualized yield. Everything updates instantly — no signup required.
Annualized return is the percent yield you'd earn if you could repeat the same covered call trade every period for a full year. It's calculated as (premium ÷ capital at risk) × (365 ÷ days to expiration). It lets you compare a 7-day trade against a 45-day trade on an apples-to-apples basis.
Your breakeven is your stock cost basis minus the premium per share you collected. As long as the underlying stays above that price by expiration, the trade is profitable regardless of assignment outcome.
If the stock closes above your strike at expiration, the call buyer exercises and your shares are called away at the strike price. You keep the full premium. Your total profit equals (strike − cost basis) × shares + premium received. The 'If called away' row shows this number live.
The free calculator runs on a curated allowlist of the most actively-traded US stocks and ETFs (currently 200+ tickers). To analyze any optionable symbol, including small-caps and LEAPs, start your free 14-day Pro trial — no credit card required.
Quotes are sourced from Tradier (institutional-grade) with sub-15-minute delay outside of market hours. During regular trading hours, prices refresh every couple of minutes. The result panel notes 'delayed quote' when the data isn't live.
CoverEdge auto-syncs from 80+ brokerages and gives you a full income ledger, AI roll recommendations, and tax-ready exports.
No credit card required · Cancel anytime