Member tool
Covered Call Calculator
You own 100 shares and sell a call against them. See your premium income, what you make if the shares get called away, what you keep if they don't, and your breakeven.
Your trade
Type in the numbers from your broker screen. Everything updates as you type.
What you paid per share for the 100 shares you own.
Enter a cost basis above zero.
What the stock is trading at right now.
Enter a stock price above zero.
The price you'd sell your shares at if the call is exercised.
Enter a strike price above zero.
The bid on your broker screen — what you collect for each share (×100 per contract).
Enter a premium of zero or more.
How many days until the call expires.
Enter zero or more days.
Profit / loss at expiry
Per 100 shares, depending on where the stock finishes on expiry day.
How the math worksEvery formula, in one line each
Covered Call Calculator: questions
Straight answers about the trade this tool maps.
What is a covered call?
You own 100 shares and sell a call option against them. The buyer pays you a premium for the right to buy your shares at the strike price before expiry. You keep the premium either way; in exchange, your upside above the strike is capped. Our covered calls guide covers what income to expect.
What happens if my shares get called away?
If the stock finishes above the strike at expiry, your shares are sold at the strike. Your profit is the strike minus your cost basis, plus the premium, times 100. You miss any gain above the strike, but you keep everything up to it plus the premium.
How is the breakeven on a covered call calculated?
Breakeven is your cost basis minus the premium per share. The premium you collected lowers what the shares owe you, so the stock can drift down by the premium before the combined position loses money at expiry.
How do I pick a strike for a covered call?
A higher strike pays less premium but leaves more room for the shares to rise; a strike near the price pays more but is likelier to be called away. Compare a few strikes here before you choose. How our rules pick strikes is explained in how we pick strikes.
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