Free Covered Call Calculator
The fastest covered call calculator on the web. Enter any ticker, pick a strike and expiration, and see premium, yield on cost, annualized return, break-even, and call-away profit in under a second. Works with 860+ optionable US stocks and ETFs — all free.
What the covered call calculator shows you
A covered call is a trade where you sell a call option against 100 shares of stock you already own (hence "covered"). The covered call calculator does every piece of math you need to decide which strike and expiration make sense:
- Premium collected — the cash you receive for selling the call.
- Yield on cost — premium ÷ stock cost basis, shown as a percentage.
- Annualized return — the covered call calculator re-bases short-dated premium to a 365-day yield so you can compare a weekly covered call to a 45-day monthly apples-to-apples.
- Effective cost basis — stock price minus premium, so you see exactly where you're "breaking even" after the trade.
- Return if called — total profit if the stock is called away at the strike (premium + capital appreciation).
- Probability of assignment — derived from the option's delta.
How to use the covered call calculator
- Enter a ticker. Any US optionable stock or ETF works — AAPL, MSFT, TSLA, NVDA, SPY, QQQ, IWM, DIA, and 850+ more.
- Pick a target delta or moneyness. Most covered call sellers target 0.20–0.30 delta (roughly 20–30% assignment probability). The covered call calculator highlights strikes in that range.
- Choose expiration. Weekly (7 DTE), bi-weekly, monthly (30–45 DTE), or LEAPS. The covered call calculator annualizes every one.
- Review the metrics. Premium, yield on cost, annualized return, effective cost basis, return-if-called — all visible at once.
- Place the trade in your broker. The calculator works in any brokerage (Schwab, Fidelity, E*TRADE, Robinhood, IBKR, Tastytrade).
Popular tickers in the covered call calculator
Jump straight to a pre-loaded covered call calculation for these popular names:
AAPL Covered Call
Run the numbers →MSFT Covered Call
Run the numbers →NVDA Covered Call
Run the numbers →TSLA Covered Call
Run the numbers →GOOGL Covered Call
Run the numbers →AMZN Covered Call
Run the numbers →META Covered Call
Run the numbers →SPY Covered Call
Run the numbers →QQQ Covered Call
Run the numbers →AMD Covered Call
Run the numbers →PLTR Covered Call
Run the numbers →COIN Covered Call
Run the numbers →Covered call calculator vs spreadsheet
Most guides online still tell you to build your own covered call calculator in Excel or Google Sheets. A spreadsheet is fine for one-off scenarios, but it has three fatal flaws: (1) you type the option quote in manually, so it's stale the moment the market moves; (2) it can't compare hundreds of strikes across dozens of tickers in seconds; (3) it silently breaks on dividend adjustments, early assignment, and rolls. Our covered call calculator fixes all three by pulling live option chain data, screening the whole market for the best yield, and modeling early assignment risk around ex-dividend dates.
Related tools
Covered Call Calculator FAQ
What is a covered call calculator?
A covered call calculator shows the premium you'll collect, your new cost basis, yield on cost, return if the stock is called away, and annualized return for a covered call on any stock. Enter the ticker, strike, expiration, and shares owned — the covered call calculator does the math for every scenario.
How does this free covered call calculator work?
Pick a ticker (AAPL, MSFT, SPY, QQQ — any of 860+ optionable US stocks and ETFs). The covered call calculator pulls live option chain data, lets you filter by delta, DTE, and moneyness, and shows the premium, effective cost basis, and annualized return for every strike. It's 100% free, no account required for the basic calculator.
Is this better than a covered call yield calculator spreadsheet?
Yes — a static covered call calculator spreadsheet requires manual quote entry and breaks on dividend adjustments, early assignment, or roll scenarios. Our calculator uses live data and handles all of that automatically.
What's the difference between a covered call calculator and a covered call screener?
A covered call calculator prices one trade at a time. A covered call screener (also included free) scans every optionable ticker and ranks by annualized yield, delta, and liquidity so you can find the best covered call candidates across the entire market in one click.
Can I use this covered call calculator for weekly options?
Absolutely. The covered call calculator handles weeklies, monthlies, LEAPS, and any DTE you select. It will even annualize the return so you can compare a 7-day weekly covered call directly to a 45-day monthly covered call on the same ticker.
Does the covered call calculator account for dividends?
Yes. The calculator factors in ex-dividend dates and estimates assignment risk when the call is in-the-money heading into an ex-div date, which is when early assignment typically happens on American-style options.
What about taxes on the covered call calculator?
The calculator surfaces short-term vs long-term treatment based on your holding period and alerts you when a covered call would convert long-term gains to short-term. For wash-sale and qualified-covered-call specifics, consult a tax pro.
Stop guessing — use the free covered call calculator
No signup, no credit card, no email. Live options data on 860+ US stocks and ETFs.
Launch the covered call calculator →