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Covered Call Scanner
Model-ranked covered call structures on liquid underlyings. Updated daily.
Quantitative research outputs — not trading instructions. Execution remains user-directed.
Sample output
| Rank | Symbol | Structure | Capital Req. | Max Profit | Expected Return | Downside Buffer | Theta / day | Event Risk |
|---|---|---|---|---|---|---|---|---|
| 9 | SMCI | OTM Covered Call16D | — | $1,016 | 32.92% | 2.59% | 3.53 | None flagged |
| 10 | CRWV | OTM Covered Call25D | — | $1,896 | 32.39% | 4.14% | 8.27 | None flagged |
| 10 | SMCI | ITM Covered Call16D | — | $129 | 5.20% | 21.95% | 3.74 | None flagged |
| 16 | ORCL | ATM Covered CallATM | — | $1,037 | 8.67% | 6.85% | 13.90 | None flagged |
| 17 | PLTR | ATM Covered CallATM | — | $1,458 | 8.56% | 8.24% | 21.43 | None flagged |
Sample preview — first 5 structures shown. Pro unlocks the full ranked output.
Quantitative research outputs — not trading instructions. Execution remains user-directed.
How we rank covered call structures
- Universe filtered to liquid underlyings with tradable option chains (tight bid-ask spreads, sufficient open interest).
- Each candidate scored on annualized carry from the short call premium net of expected cost-of-capital.
- Capital efficiency measured as premium captured per dollar of notional collateral required.
- Event sensitivity flagged for upcoming earnings, ex-dividend dates, and known macro events inside the option's life.
- Downside exposure quantified at the strike and at user-defined drawdown thresholds.
- Final rank is a composite — no single metric dominates.
What generic screeners miss
- Most screeners filter by yield only and ignore the capital required to hold the underlying.
- Few account for upcoming earnings or dividends inside the option's window.
- Static yield calculations are not annualized consistently across DTEs.
- Liquidity is rarely enforced — illiquid contracts produce unfillable rankings.
Free vs Pro access
Free
- Top 5 model-ranked covered call structures
- Methodology transparency
- Daily refresh
Pro
- Full ranked output across all liquid underlyings
- Cross-strategy comparison (covered calls vs calendars vs diagonals on the same name)
- Portfolio exposure aggregator
- Historical research data
- CSV export
Frequently asked questions
- Are these covered calls a recommendation to trade?
- No. The output is a ranked list of structures the model considers analytically attractive given current market data. Execution decisions remain user-directed.
- How often is the ranking refreshed?
- Daily, based on end-of-day options chain data for the underlying universe.
- What stocks are in the universe?
- Liquid US-listed underlyings with tradable option chains (tight bid-ask spreads, sufficient open interest). The exact universe is dynamic.
- Why is this free?
- Covered calls are a single-leg structure with broad utility. The free tier gives a representative sample. Pro unlocks multi-strategy ranking, the cross-strategy comparison, the exposure aggregator, and historical data.
- Do you account for earnings risk?
- Yes. Each candidate is flagged when an upcoming earnings or ex-dividend date falls inside the option's life.
Related scanners
Calendar Spread Scanner
Diagonal Spread Scanner
Iron Condor Scanner
Credit Spread Scanner
Quantitative research outputs — not trading instructions. Execution remains user-directed.