The Covered Calls page allows you to view these options for the nearest expiration date. Barchart Premier subscribers can view other expiration dates (select the expiration month/year using the drop-down menu at the top of the page). Weekly expiration dates are labeled with a (w) in the expiration date list.
Options information is delayed a minimum of 15 minutes, and is updated at least once every 15-minutes through-out the day. The strategy is updated every 20 minutes thereafter throughout the day with new option candidates. The screener displays probability calculations based on the delayed stock price at the time the strategy is updated. The new day's options data will start populating the screener at approximately 8:55a CT.
About Covered Calls
Selling covered calls is an investment strategy that can be used to generate additional income from the stock positions you already own. Over 75% of options are held until expiration and expire worthless.
Using a covered call strategy, you can sell options on the stocks you own (providing downside protection on the stock), and earn the premium income if the option expires worthless. You earn a premium (income) from writing the call, and still have all the benefits of owning the stock (dividends), provided the call is not exercised before it expires.
- You own (are long) at least 100 shares of a stock.
- You sell (short) a call option against that stock (1 option controls 100 shares).
Thus, 1 Covered Call = long 100 shares of a stock + short 1 call option.
The aggregate operation is typically known as covered call writing.
It is called “covered” because should the option be exercised you own the stock required to fulfill the delivery obligation for the 100 shares, as opposed to selling a naked call, where you don't own the underlying stock, which represents an unlimited liability for the seller. When writing covered calls you are protected against unlimited losses in the event that the strike price dips below the market price of the underlying asset. A similar strategy to writing a covered call is to sell a naked put.
Covered Calls Strategy: The page is initially sorted by descending "Potential Return". Data fields displayed include:
- Price~Â - the delayed stock price at the time the strategy is updated for the underlying equity.
- Expiration Date: the option expiration date.
- Strike - the price at which the underlying security can be bought if the option is exercised.
- Moneyness - the percent from the last price: (strike price - last / last). Moneyness refers to the relative position of the underlying asset's last price to the strike price. When a call option's Moneyness is negative, the underlying last price is less than the strike price; when positive, the underlying last price is greater than the strike price.
- Bid - the premium to purchase this call option.
- Net Debit - the cost to enter this covered call, or the Break Even point for the call on expiration date. Net Debit (Break Even) is calculated as (Stock Price - Bid). If the stock price is HIGHER than the call's Net Debit on expiration, the call will make a profit.
- Return if Flat - The return of the position if the price of the underlying stock remained unchanged at the expiration of the options contract. For Covered Calls, this is calculated based on this information:
- if Stock Last Price > Strike Price then ((Options Strike + Bid + Dividends - Stock Price) / (Stock Price - Bid))
- if Stock Last Price <= Strike Price then (Bid / (Stock Price + Dividends - Bid)) * 100.0
- Volume - the total number of options traded in the current day for a contract.
- Open Interest - the total number of open option contracts in the market for a particular contract. The more popular the contract is with options traders, the greater the Open Interest. An opening transaction will increase the Open Interest, and a closing transaction will decrease it.
- Implied Volatility - Implied Volatility (IV) is the estimated volatility of the underlying stock over the period of the option. IV can help traders determine if options are fairly valued, undervalued, or overvalued. It can therefore help traders make decisions about option pricing, and whether it is a good time to buy or sell options. Implied volatility is determined mathematically by using current option prices in a formula that also includes Standard Volatility (which is based on historical data). The resulting number helps traders determine whether the premium of an option is "fair" or not. It is also a measure of investors' predictions about future volatility of the underlying stock. Implied volatility is calculated using the Binomial model.
- Delta - Delta measures the amount an option price will change as a result of a $1.00 price change of the underlying security. Since call options rise and fall directly with the price of the stock, they are assigned deltas between 0 to -1.
- OTM Probability: Probability that the underlying will be below the strike at expiration when purchasing a call or the probability that the underlying will be above the strike at expiration when purchasing a put option.
- Potential Return if Flat - the potential return for this strategy, assuming the options are assigned or called. For a covered call, Potential Return is calculated using Time Premium, your profit (income) per share between now and option expiration.
- Time Premium = (Strike + Call Bid - Stock Last Price)
- Calculate Net Debit: (Stock Last Price - Call Bid)
- Potential Return = Time Premium / Net Debit
- Annualized Potential Return - the annualized percentage of potential return for this covered call assuming the options are assigned or called. It is calculated as (Potential Return / Days Held) * 365 where Days Held is the number of days remaining until expiration.
Data Updates
For pages showing Intraday views, we use the current session's data with new price data appear on the page as indicated by a "flash". Stocks: 15 minute delay (Cboe BZX data for U.S. equities is real-time), ET. Volume reflects consolidated markets. Futures and Forex: 10 or 15 minute delay, CT.
The list of symbols included on the page is updated every 10 minutes throughout the trading day. However, new stocks are not automatically added to or re-ranked on the page until the site performs its 10-minute update.
For reference, we include the date and timestamp of when the list was last updated at the top right of the page.
Page Sort
Pages are initially sorted in a specific order (depending on the data presented). You can re-sort the page by clicking on any of the column headings in the table.
Views
Most data tables can be analyzed using "Views." A View simply presents the symbols on the page with a different set of columns. Site members can also display the page using Custom Views.
Each View has a "Links" column on the far right to access a symbol's Quote Overview, Chart, Options Quotes (when available), Barchart Opinion, and Technical Analysis page. Standard Views found throughout the site include:
- Main View: Symbol, Name, Last Price, Change, Percent Change, High, Low, Volume, and Time of Last Trade.
- Technical View: Symbol, Name, Last Price, Today's Opinion, 20-Day Relative Strength, 20-Day Historic Volatility, 20-Day Average Volume, 52-Week High and 52-Week Low.
- Performance View: Symbol, Name, Last Price, Weighted Alpha, YTD Percent Change, 1-Month, 3-Month and 1-Year Percent Change.
- Moving Averages View: Symbol, Name, Last Price, 20-Day Moving Average, % From 20-Day Moving Average, 50-Day Moving Average, % From 50-Day Moving Average, 100-Day Moving Average, % From 100-Day Moving Average, 200-Day Moving Average, % From 200-Day Moving Average.
- Fundamental View: Available only on equity pages, shows Symbol, Name, Market Cap, P/E Ratio (trailing 12 months). Earnings Per Share (trailing 12 months), Net Income, Beta, Annual Dividend, Dividend Yield, and Latest Earnings Date.
Note: For all markets except U.S. equities, fundamental data is not licensed for downloading. Your .csv file will show "N/L" for "not licensed" when downloading from a Canadian, UK, Australian, or European stocks page. - Mini-Chart View: Available for Barchart Plus and Premier Members, this view displays 12 small charts per page for the symbols shown in the data table. You may change the bar type and time frame for the Mini-Charts as you scroll through the page. The default settings for Mini-Charts are found in your Site Preferences, under "Overview Charts".
- Pre-Post Market Data: Available for Barchart Plus and Premier Members, this view will show any pre- or post-market price activity for U.S. equities only.
View Symbol More Data (+)
Unique to Barchart.com, data tables contain an option that allows you to see more data for the symbol without leaving the page. Click the "+" icon in the first column (on the left) to view more data for the selected symbol. Scroll through widgets of the different content available for the symbol. Click on any of the widgets to go to the full page. The "More Data" widgets are also available from the Links column of the right side of the data table.
Flipcharts
Also unique to Barchart, Flipcharts allow you to scroll through all the symbols on the table in a chart view. While viewing Flipcharts, you can apply a custom chart template, further customizing the way you can analyze the symbols. Flipcharts are a free tool available to Site Members.
Note: Flipcharts, unlike the full-page chart or Dashboard, does not stream updated data to the chart.
Download
Download is a free tool available to Site Members. This tool will download a .csv file for the View being displayed. For dynamically-generated tables (such as a Stock or ETF Screener) where you see more than 1000 rows of data, the download will be limited to only the first 1000 records on the table. For other static pages (such as the Russell 3000 Components list) all rows will be downloaded.
Free members are limited to 1 site download per day. Barchart Plus Members have 10 downloads per day, while Barchart Premier Members may download up to 250 .csv files per day.
Note: Due to licensing restrictions, Canadian fundamental data cannot be downloaded from Barchart.com. You will see "N/L" in a downloaded column when this is the case. Fundamental data for US equities is also limited to 15 fields per download request.
Should you require more than 250 downloads per day, please contact Barchart Sales at 866-333-7587 or email solutions@barchart.com for more information or additional options about historical market data.
