A covered call, on today's prices

Shared workspace on Qwidgets tracking prediction markets with data from Kalshi, Polymarket, and more. Live prices, candlestick charts, order books, and historical analytics for every event and market on this page.

Markets in this workspace

A covered call sells someone the right to buy your shares at a set price. You collect the premium now, and give up any gain above that price. This workspace shows 100 shares of XLF (Financial Select Sector SPDR Fund) with and without a call expiring November 6, 2026. The underlying was chosen to illustrate the idea; it isn't a recommendation. Quotes are delayed. Contracts last selected September 29, 2026.

Below the strike, the line falls with the shares, cushioned by the premium. Above it, the line is flat: the shares are called away at the strike.

A straight line: every dollar up or down is yours. Compare it with the trade above to see what the call sold.

Try a higher strike on the covered call and watch the premium shrink and the flat part of the line move out. Nothing you change here is saved.

Read the lesson: Covered calls: what you're selling. Models, not forecasts, and not investment advice: Disclosures & Model Limits.