WMT Covered Call: Nov 13 $125 Call
Walmart Inc. Common Stock (WMT). Option quotes as of Oct 16, 2026, 4:00 PM ET. Stock prices are closing prices.
Buy 100 shares at $118.81. Sell 1 Nov 13, 2026 $125 call for $0.95, the bid.
- Premium at the bid
- $95
- Delta
- 0.24
- Return if stock unchanged
- 0.81%
- Return if shares called away
- 6.06%
- Breakeven
- $117.86
Earnings Nov 19 (expected), 6 days after this expiryFOMC Oct 28, 2:00 PM ET
Nov 13 expiry, 25 days out (weekly). This is a screen result that fits CFU's rules. It is not a recommendation to trade.
Open WMT in the interactive scannerCash-Secured Put on WMT
Profit and loss at expiry
Why this covered call
Why this expiry
CFU's rules chose the Nov 13 expiry, 25 days out.
The Nov 20 monthly spans WMT's earnings on Nov 19 (expected), so the rules took this weekly, still 25 days out.
A call with one week left looks like it pays more per day, but it does not keep it.
With the stock unchanged, a call like this with one week left loses about 16 percent of its value a day. It also swings hard with the stock, and you pay the spread again every week.
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 $0.05 a share a day, 4.3% 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.
One- and two-week calls are out unless an earnings report is close.
Why this strike and delta
The $125 call has a delta of 0.24.
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 76% chance WMT finishes below $125 at expiry. That is an estimate, not a prediction.
Earnings
WMT is expected to report earnings on Nov 19, 6 days after this option expires.
The date is an estimate, and companies sometimes report earlier than expected. Check the date before you trade.
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.
Employment Situation on Nov 6, 2026 at 8:30 AM ET. The jobs report counts hiring and unemployment, and a surprise can change the outlook for the economy and interest rates and move stock prices.
Consumer Price Index on Nov 10, 2026 at 8:30 AM ET. CPI measures inflation in consumer prices, and a surprise can change the outlook for interest rates and move stock prices.
Producer Price Index on Nov 13, 2026 at 8:30 AM ET. PPI measures inflation in the prices businesses receive, and a surprise can change the outlook for interest rates and 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
WMT's next declared ex-dividend date, Dec 11, 2026, falls after this expiry.
Liquidity
The bid is $0.95 and the ask is $1.25, a spread of 27.3% 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 586. 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 WMT falls, you lose on the shares.
The $0.95 premium cushions only the first $0.95 of a drop.
Below the $117.86 breakeven, the position loses $100 for each $1 the stock falls.
If the stock went to zero, you would lose $11,786.
Your upside is capped
Your upside is capped at the $125 strike. If WMT is above $125 at expiry, your shares are sold at $125.
You keep the premium, but you miss any gain above that price.
Measured from today's prices, the most this trade can make is $714.
How the numbers are priced
Every figure on this page uses the $0.95 bid, the price you could sell at when the quote was taken.
The example order starts at the midpoint, $1.10, and walks toward the bid.
WMT call strikes for Nov 13
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 |
|---|---|---|---|---|---|---|
| $110 | 0.85 | $9.35 | $10.05 | 7.4% below | $935 | $109.46 |
| $111 | 0.80 | $8.45 | $9.90 | 6.6% below | $845.00 | $110.36 |
| $114 | 0.76 | $5.20 | $7.00 | 4.0% below | $520 | $113.61 |
| $115 | 0.68 | $5.05 | $6.70 | 3.2% below | $505 | $113.76 |
| $116 | 0.66 | $4.65 | $5.10 | 2.4% below | $465.00 | $114.16 |
| $117 | 0.62 | $3.30 | $4.45 | 1.5% below | $330 | $115.51 |
| $118 | 0.56 | $2.85 | $4.05 | 0.7% below | $285 | $115.96 |
| $119 | 0.51 | $3.00 | $4.15 | 0.2% above | $300 | $115.81 |
| $120 | 0.46 | $2.35 | $2.96 | 1.0% above | $235 | $116.46 |
| $121 | 0.41 | $1.79 | $2.59 | 1.8% above | $179 | $117.02 |
| $122 | 0.35 | $0.98 | $2.30 | 2.7% above | $98 | $117.83 |
| $123 | 0.31 | $0.93 | $1.88 | 3.5% above | $93 | $117.88 |
| $124 | 0.27 | $1.15 | $1.41 | 4.4% above | $115.00 | $117.66 |
| $125 (CFU rule) | 0.24 | $0.95 | $1.25 | 5.2% above | $95 | $117.86 |
| $126 | 0.17 | $0.40 | $0.92 | 6.1% above | $40 | $118.41 |
| $127 | 0.17 | $0.47 | $1.02 | 6.9% above | $47 | $118.34 |
| $128 | 0.13 | $0.24 | $0.76 | 7.7% above | $24 | $118.57 |
| $129 | 0.12 | $0.27 | $0.63 | 8.6% above | $27 | $118.54 |
| $130 | 0.08 | $0.11 | $0.44 | 9.4% above | $11 | $118.70 |
Example order
I don't own the shares yet
BUY 100 WMT / SELL TO OPEN 1 WMT 11/13/26 125.00 CALL LIMIT: $117.71 net debit (mid) If not filled: raise $0.01 every 2 min Ceiling: $117.86 (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 WMT 11/13/26 125.00 CALL LIMIT: $1.10 credit (mid) If not filled: lower $0.01 every 2 min Floor: $0.95 (bid). Don't sell for less.
Prices are from Oct 16, 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 WMT at $125?
- Am I happy holding it below $117.86?
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 WMT
Open one in the interactive scanner to see its strikes, chart and order example.
- Oct 30 · 11 days · weekly
- Nov 6 · 18 days · weekly
- Nov 20 · 32 days · monthly
- Nov 27 · 39 days · weekly
- Dec 18 · 60 days · monthly
- Jan 15 · 88 days · monthly
- Mar 19 · 151 days · monthly
- Jun 17 · 241 days · monthly
- Sep 17 · 333 days · monthly
- Dec 17 · 424 days · monthly
- Jan 21 · 459 days · monthly
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