AMD Covered Call: Oct 30 $575 Call

Advanced Micro Devices (AMD). Option quotes as of Oct 19, 2026, 4:02 PM ET. Stock prices are closing prices.

Buy 100 shares at $538.05. Sell 1 Oct 30, 2026 $575 call for $7.25, the bid.

Premium at the bid: $725
Delta: 0.26
Return if stock unchanged: 1.37%
Return if shares called away: 8.33%
Breakeven: $530.80

Earnings Nov 3 (expected), 4 days after this expiryFOMC Oct 28, 2:00 PM ET

Oct 30 expiry, 10 days out (weekly). Shortened to 10 days to finish before earnings on Nov 3 (expected). This is a screen result that fits CFU's rules. It is not a recommendation to trade.

Open AMD in the interactive scanner Cash-Secured Put on AMD

Daily prices for AMD from Apr 20, 2026 to Oct 19, 2026. Over that time it closed between $274.95 and $649.42. The $575 strike is 6.9% above the current price of $538.05. The breakeven is $530.80. By Oct 30, 2026, the options market is pricing a range of about $485.62 to $590.48, with about 2 in 3 odds of finishing inside it. That is an estimate, not a prediction. Marked before expiry: the Fed decision on Oct 28, 2026, the PCE inflation report on Oct 29, 2026 and the GDP report on Oct 29, 2026.

Profit and loss at expiry

The chart shows the profit or loss at expiry for 100 shares of AMD bought at $538.05 and the $575 call sold at the $7.25 bid. The most it can make is $4,420, at any price at or above $575. It breaks even at $530.80. Below that, it loses $100 for each $1 the stock falls, up to $53,080 if the stock went to zero. For comparison, owning the shares alone gains or loses $100 for each $1 move, with no cap on the gain. The Today line estimates what the position is worth now at each price, from the Black-Scholes model. It is an estimate, not a prediction.

Why this covered call

Why this expiry

CFU's rules chose the Oct 30 expiry, 10 days out.

That is shorter than the usual 21 to 45 days. It is shortened to 10 days to finish before AMD's earnings on Nov 3 (expected).

A call this short loses value faster and swings harder with the stock. The rules accept that to finish before the report.

With the stock unchanged, a call 21 to 45 days out loses about 3 to 6 percent of its value a day, and its strike sits further from the stock.

Those decay figures are model estimates from Black-Scholes at 30% implied volatility, not predictions.

For this call, the options data puts the decay at about $0.77 a share a day, 10.0% of its value, with the stock unchanged. That is a model estimate, not a prediction.

CFU's rules look for expiries 21 to 45 days out and aim for about 35. They take the monthly when it fits.

They go under 21 days only to finish before an earnings report, and never under 7 days.

Why this strike and delta

The $575 call has a delta of 0.26.

CFU's rules sell a call with a delta between 0.20 and 0.30, as close to 0.25 as a liquid strike allows.

Among the strikes in that band, the rules keep the ones that pass the liquidity checks and take the one closest to 0.25.

Below 0.20 the premium gets thin. Above 0.30 the strike sits close to the stock, and your shares are more likely to be called away.

Near 0.25 the strike leaves room for the stock to rise and still pays a real premium.

Delta is a market-implied estimate drawn from option prices.

The options market prices roughly a 74% chance AMD finishes below $575 at expiry. That is an estimate, not a prediction.

Earnings

AMD is expected to report earnings on Nov 3, 4 days after this option expires.

The date is an estimate, and companies sometimes report earlier than expected. Check the date before you trade.

The rules shortened the trade so it finishes before the report.

Macro events before expiry

Fed rate decision on Oct 28, 2026 at 2:00 PM ET. The Fed sets short-term interest rates at this meeting, and a decision or statement that surprises traders can move the whole market.

Personal Income and Outlays (PCE price index) on Oct 29, 2026 at 8:30 AM ET. The PCE price index is the inflation measure the Fed watches most closely, and a surprise can change the outlook for interest rates and move stock prices.

GDP, advance estimate on Oct 29, 2026 at 8:30 AM ET. The GDP report is the first estimate of how fast the economy grew last quarter, and a surprise can move stock prices.

CFU's method does not change the example for these releases. They are listed so you know they fall inside the trade.

Dividends and early assignment

AMD has no declared ex-dividend date before this expiry.

Liquidity

The bid is $7.25 and the ask is $8.10, a spread of 11.1% of the midpoint. On closing prices CFU's rules allow up to 30% of the midpoint, or 10 cents on a low-priced option, because spreads widen at the close.

Open interest, the number of these contracts already open, is 381. The rules need at least 100.

The rules also need a bid of at least $0.05.

Your risk

You still own 100 shares. If AMD falls, you lose on the shares.

The $7.25 premium cushions only the first $7.25 of a drop.

Below the $530.80 breakeven, the position loses $100 for each $1 the stock falls.

If the stock went to zero, you would lose $53,080.

Your upside is capped

Your upside is capped at the $575 strike. If AMD is above $575 at expiry, your shares are sold at $575.

You keep the premium, but you miss any gain above that price.

Measured from today's prices, the most this trade can make is $4,420.

How the numbers are priced

Every figure on this page uses the $7.25 bid, the price you could sell at when the quote was taken.

The example order starts at $7.65, the midpoint of the bid and ask rounded down to the option's price step, and walks toward the bid.

AMD call strikes for Oct 30

Every listed strike near the money for the same expiry, priced at the bid. The highlighted row is the one CFU's rules chose. Grey rows fail a liquidity check.

Strike	Delta	Bid	Ask	From price	Premium (1 contract)	Breakeven
$490	0.83	$53.25	$56.55	8.9% below	$5,325	$484.80
$495	0.82	$47.55	$52.80	8.0% below	$4,755	$490.50
$500	0.80	$44.85	$47.15	7.1% below	$4,485	$493.20
$505	0.76	$41.50	$43.95	6.1% below	$4,150	$496.55
$510	0.73	$37.10	$40.40	5.2% below	$3,710	$500.95
$515	0.70	$33.30	$37.00	4.3% below	$3,330.00	$504.75
$520	0.66	$30.60	$33.70	3.4% below	$3,060	$507.45
$525	0.63	$28.25	$29.10	2.4% below	$2,825	$509.80
$530	0.59	$25.30	$26.15	1.5% below	$2,530	$512.75
$535	0.56	$21.35	$23.35	0.6% below	$2,135	$516.70
$540	0.52	$20.25	$20.80	0.4% above	$2,025	$517.80
$545	0.48	$17.75	$18.40	1.3% above	$1,775	$520.30
$550	0.44	$15.50	$16.30	2.2% above	$1,550	$522.55
$555	0.40	$13.50	$14.25	3.2% above	$1,350	$524.55
$560	0.36	$11.95	$12.35	4.1% above	$1,195	$526.10
$565	0.33	$10.30	$10.85	5.0% above	$1,030	$527.75
$570	0.30	$8.95	$9.35	5.9% above	$895.00	$529.10
$575 (CFU rule)	0.26	$7.25	$8.10	6.9% above	$725	$530.80
$580	0.23	$6.20	$7.00	7.8% above	$620	$531.85
$585	0.21	$5.60	$6.00	8.7% above	$560	$532.45
$590	0.18	$4.80	$5.10	9.7% above	$480	$533.25
$595	0.16	$4.10	$4.40	10.6% above	$410.00	$533.95
$600	0.14	$3.45	$3.65	11.5% above	$345	$534.60
$605	0.12	$2.85	$3.15	12.4% above	$285	$535.20
$610	0.10	$2.29	$2.60	13.4% above	$229	$535.76
$612.50	0.10	$2.29	$2.42	13.8% above	$229	$535.76
$615	0.09	$2.04	$2.26	14.3% above	$204	$536.01
$617.50	0.08	$1.84	$2.08	14.8% above	$184	$536.21
$620	0.08	$1.78	$1.89	15.2% above	$178	$536.27

Example order

I don't own the shares yet

BUY 100 AMD / SELL TO OPEN 1 AMD 10/30/26 575.00 CALL
LIMIT: $530.38 net debit (mid)
If not filled: raise $0.01 every 2 min
Ceiling: $530.80 (stock price − call bid). Don't pay more.

This is a buy-write. One order buys the shares and sells the call together.

I already own 100 shares

SELL TO OPEN 1 AMD 10/30/26 575.00 CALL
LIMIT: $7.65 credit (mid)
If not filled: lower $0.05 every 2 min
Floor: $7.25 (bid). Don't sell for less.

Prices are from Oct 19, 2026, 3:59 PM ET. Recompute from your live quote: start at mid, walk toward the bid, never past it.

Before you sell, ask

Am I happy selling AMD at $575?
Am I happy holding it below $530.80?

These are the two questions CFU asks before any example, for every ticker. If either answer is no, this is not the trade for you.

Other expirations for AMD

Open one in the interactive scanner to see its strikes, chart and order example.

Want to see how CFU actually trades? Members see our trades live, with every closed trade in our public record.

See the record · Membership plans