- Home
- Best lists
- Best Covered Call Stocks 2026: 10 Ranked
Best lists
Best Covered Call Stocks 2026: 10 Ranked
Ten stocks worth owning and writing calls against, ranked on business quality, options liquidity and how much the calls pay. Every pick shows what a 25-delta call 30 days out pays today and the cash for 100 shares, refreshed from live options data.
On this page
The short answer
The best covered call stocks are companies you would hold through a 20% drop, with deep, liquid options and enough implied volatility that a call 30 days out pays a useful premium. On this list that means AAPL, MSFT, NVDA, AMZN and GOOGL for steady income, and META, AMD and TSLA for more premium with bigger swings.
Do not buy a stock just to sell calls on it. A call caps your upside but barely cushions a big fall, so the stock has to be one you are happy to keep.
ApexVol ranks covered call stocks on business quality first, then options liquidity, then premium. Each pick's yield is a 25-delta call 30 days out, priced from that stock's own measured call volatility, as a share of the share price.
Ranked at a glance
10 picks,
in order.
Ranked on business quality, options liquidity and premium, in that order. A rich call on a stock you would not hold is a bad trade, so the highest yield does not top the list. Each pick shows today's 25-delta call yield and the cash for 100 shares.
| Rank | Name | Key stat | Description |
|---|---|---|---|
| 1 | AAPL (Apple) | IV percentile 46 (IV 27.1%) | The steady default for covered calls: a business most people are happy to own, some of the deepest options markets anywhere, and calls that pay a modest but dependable premium. |
| 2 | MSFT (Microsoft) | IV percentile 69 (IV 33.1%) | Blue-chip quality with a dividend, steady options volume and call premium a little richer than Apple's. |
| 3 | NVDA (NVIDIA) | IV percentile 28 (IV 41.4%) | More premium than Apple or Microsoft for a lower share price, and one of the most traded options markets in the world, so fills are tight. |
| 4 | AMZN (Amazon) | IV percentile 95 (IV 44.7%) | No dividend, but implied volatility runs higher than most mega-caps, so its calls pay more for similar business quality. |
| 5 | GOOGL (Alphabet) | IV percentile 72 (IV 38.4%) | A cash-rich business with a small dividend and call premium that sits between Apple's and Amazon's. |
| 6 | META (Meta Platforms) | IV percentile 88 (IV 39.0%) | IV runs richer than Apple or Microsoft without Tesla-level whipsaw, but it is one of the costliest lots on this list. |
| 7 | AMD (Advanced Micro Devices) | IV percentile 35 (IV 61.0%) | One of the richest premiums on the list, from a chip stock that moves a lot. Expect calls to be tested and shares called away more often. |
| 8 | TSLA (Tesla) | IV percentile 11 (IV 39.0%) | A heavily traded mega-cap whose implied volatility stays high, so calls pay well. The same swings mean calls get tested, and shares called away, far more often. |
| 9 | SPY (S&P 500 ETF) | IV percentile 47 (IV 13.9%) | The index choice for systematic call writing: daily expirations, the tightest spreads in the market and no single-company risk, at the cost of the smallest premium here. |
| 10 | BAC (Bank of America) | IV percentile 63 (IV 23.9%) | The low-cash pick: a large bank with a dividend and liquid options, at a fraction of the cost of the mega-caps above. |
-
AAPL (Apple) Top pick
The steady default for covered calls: a business most people are happy to own, some of the deepest options markets anywhere, and calls that pay a modest but dependable premium.
IV percentile 46 (IV 27.1%), measured 2026-10-26
25-delta call yield 0.91% for 30 days, 11.0% a year (estimated): own 100 shares at $347.73, sell the $370 call for $3.15
Risk level Low-Medium
Capital required $34,800 per 100 shares
Ideal for Income traders who want a stock they never worry about holding
Pros Very deep options with weekly expirations; A business you can hold through a bad quarter; Small dividend on top of the premium
Cons Lower IV means a smaller premium than growth names; Earnings moves can jump straight through your strike; High cash needed per 100 shares
-
MSFT (Microsoft)
Blue-chip quality with a dividend, steady options volume and call premium a little richer than Apple's.
IV percentile 69 (IV 33.1%), measured 2026-10-26
25-delta call yield 1.43% for 30 days, 17.4% a year (estimated): own 100 shares at $524.51, sell the $560 call for $7.50
Risk level Low
Capital required $52,500 per 100 shares
Ideal for Conservative investors earning income from a core holding
Pros Dividend plus call premium; One of the most stable mega-caps; Liquid weekly options
Cons One of the costlier lots on this list; Can rally hard on AI news and get called away; Earnings gaps
-
NVDA (NVIDIA)
More premium than Apple or Microsoft for a lower share price, and one of the most traded options markets in the world, so fills are tight.
IV percentile 28 (IV 41.4%), measured 2026-10-26
25-delta call yield 1.53% for 30 days, 18.6% a year (estimated): own 100 shares at $210.96, sell the $230 call for $3.23
Risk level Medium
Capital required $21,100 per 100 shares
Ideal for Traders who want mega-cap quality with more premium
Pros One of the most traded options markets; Less cash per 100 shares than most mega-caps; Richer premium than AAPL or MSFT
Cons Big swings in both directions; Sharp rallies get shares called away; Large earnings moves
-
AMZN (Amazon)
No dividend, but implied volatility runs higher than most mega-caps, so its calls pay more for similar business quality.
IV percentile 95 (IV 44.7%), measured 2026-10-26
25-delta call yield 1.65% for 30 days, 20.1% a year (estimated): own 100 shares at $248.00, sell the $275 call for $4.10
Risk level Medium
Capital required $24,800 per 100 shares
Ideal for Income traders who want more premium from a quality name
Pros Richer call premium than most mega-caps; Liquid weekly options; Mid-range cash per 100 shares
Cons No dividend; Large earnings moves; Can trend higher for months and cap your upside
-
GOOGL (Alphabet)
A cash-rich business with a small dividend and call premium that sits between Apple's and Amazon's.
IV percentile 72 (IV 38.4%), measured 2026-10-26
25-delta call yield 1.41% for 30 days, 17.1% a year (estimated): own 100 shares at $320.21, sell the $350 call for $4.51
Risk level Low-Medium
Capital required $32,000 per 100 shares
Ideal for Long-term holders adding income
Pros Strong balance sheet, comfortable to hold; Small dividend; Liquid options
Cons Regulatory headlines add event risk; Earnings gaps; Thinner options volume than AAPL or NVDA
-
META (Meta Platforms)
IV runs richer than Apple or Microsoft without Tesla-level whipsaw, but it is one of the costliest lots on this list.
IV percentile 88 (IV 39.0%), measured 2026-10-26
25-delta call yield 1.53% for 30 days, 18.7% a year (estimated): own 100 shares at $642.62, sell the $700 call for $9.86
Risk level Medium
Capital required $64,300 per 100 shares
Ideal for Well-funded accounts wanting more yield than the staples
Pros Richer premium than most mega-caps; Tight spreads on weekly options; Small dividend
Cons One of the highest share prices here; Sharp earnings gaps; Regulatory headlines
-
AMD (Advanced Micro Devices)
One of the richest premiums on the list, from a chip stock that moves a lot. Expect calls to be tested and shares called away more often.
IV percentile 35 (IV 61.0%), measured 2026-10-26
25-delta call yield 2.4% for 30 days, 29.1% a year (estimated): own 100 shares at $516.79, sell the $590 call for $12.38
Risk level Medium-High
Capital required $51,700 per 100 shares
Ideal for Active traders comfortable rolling calls
Pros Call premium near the top of this list; Liquid options across strikes; Strong long-term growth story
Cons Large swings and drawdowns; No dividend; High cash needed per 100 shares
-
TSLA (Tesla)
A heavily traded mega-cap whose implied volatility stays high, so calls pay well. The same swings mean calls get tested, and shares called away, far more often.
IV percentile 11 (IV 39.0%), measured 2026-10-26
25-delta call yield 1.56% for 30 days, 19.0% a year (estimated): own 100 shares at $372.22, sell the $405 call for $5.81
Risk level Medium-High
Capital required $37,200 per 100 shares
Ideal for Active traders comfortable managing assignment
Pros High premium per contract; Very liquid weekly options; Huge volume keeps spreads tight
Cons Sharp drawdowns as well as rallies; Frequent assignment on strong up-moves; Needs active strike and roll management
-
SPY (S&P 500 ETF)
The index choice for systematic call writing: daily expirations, the tightest spreads in the market and no single-company risk, at the cost of the smallest premium here.
IV percentile 47 (IV 13.9%), measured 2026-10-26
25-delta call yield 0.59% for 30 days, 7.1% a year (estimated): own 100 shares at $759.97, sell the $780 call for $4.46
Risk level Low
Capital required $76,000 per 100 shares
Ideal for Index investors adding income to a core holding
Pros Daily expirations; The tightest spreads of any options market; No single-company risk
Cons Smallest premium on this list; The most expensive lot here; Caps your gains in a strong market
-
BAC (Bank of America)
The low-cash pick: a large bank with a dividend and liquid options, at a fraction of the cost of the mega-caps above.
IV percentile 63 (IV 23.9%), measured 2026-10-26
25-delta call yield 0.99% for 30 days, 12.0% a year (estimated): own 100 shares at $50.56, sell the $53 call for $0.50
Risk level Low-Medium
Capital required $5,100 per 100 shares
Ideal for Smaller accounts starting out with covered calls
Pros Lowest cash per 100 shares on this list; Dividend on top of the premium; Liquid options with weekly expirations
Cons Smaller premium than the tech names; Moves with interest rates and credit worries; Thinner options volume than the mega-caps
Live data, refreshed October 27, 2026. October 2026 data refresh: AAPL IV percentile 18→46, MSFT IV percentile 60→69, AMZN IV percentile 65→95, GOOGL IV percentile 58→72, META IV percentile 79→88, SPY IV percentile 66→47.
ApexVol Terminal
Options analytics, live.
Chains, IV rank, expected move and dealer positioning for 5,500+ US stocks and ETFs.
- Live chains and Greeks
- IV rank and percentile
- Expected move and GEX
- Screener and strategy P&L
Free on AAPL, no account. Trial: no charge if you cancel before it ends.
Highest covered call yields in the market today (30 days, 25-delta)
Live, as of 27 Oct 2026, 16:27 UTCThe ranking above weighs quality. This screen is yield alone: the liquid US stocks paying the most for a 25-delta call today. A rich call usually means a jumpy stock, so check a name before you buy shares to write against.
| Ticker | Price | 30d yield | Annualised | Div yield | IV30 |
|---|---|---|---|---|---|
| TWLO | $263.65 | 3.0% | 36.8% | 0.0% | 79.9% |
| DDOG | $280.24 | 3.0% | 36.7% | 0.0% | 79.5% |
| NET | $331.86 | 3.0% | 36.0% | 0.0% | 78.1% |
12 more rows behind a free account. No card. It unlocks today's full table on this page, refreshed through the trading day.
Want the live chain behind these numbers? Start a 7-day free trial.
By creating an account you agree to the terms. Already have one? Log in.
Try this with real market data. 5,500+ stocks, live options chains, IV analytics and P&L. 7-day free trial.
How to Pick Stocks for Covered Calls
A covered call caps your upside in exchange for premium, but it does almost nothing to cushion a big fall. So the stock comes first: only write calls on shares you would hold through a 20% drop. The premium is a bonus on a holding you already want.
The Covered Call Stock Checklist
- You would own it anyway. If the only reason to buy is the premium, skip it.
- Deep, liquid options. Tens of thousands of contracts a day and a bid-ask spread of a few cents near your strike, so you are not giving the premium back on the fill.
- Weekly expirations. More choice of dates, and room to roll.
- Enough implied volatility. Check where today's IV sits in its own year (the IV percentile). Low IV means a thin premium for the same risk.
- Know the earnings date. A call that spans a report pays more, and the stock can gap straight through your strike.
How Much Covered Calls Pay
Each pick above shows what one call pays today: a 25-delta call 30 days out, which usually sits 5% to 15% above the share price. The yield is that premium divided by the share price. Across this list it runs from about half a percent for 30 days on SPY to over 2% on AMD, before dividends.
The yearly figure is the 30-day yield times 365/30, not compounded. That assumes the same premium every month, no assignment and no fall in the stock, so treat it as a ceiling rather than a forecast. A richer call almost always means a stock that moves more, which is why the highest yields are not at the top of this list.
Best Covered Call Stocks by Account Size
A covered call needs 100 shares, so the share price decides what you can write against. Share prices move, so check the cash needed on each pick above before you plan a trade.
Small Accounts (Under $10,000)
BAC is the only pick here that fits. For more names at this size, see the best stocks for small options accounts, or use a poor man's covered call, which swaps the shares for a long-dated call and needs far less cash.
Mid-Size Accounts ($20,000 to $40,000)
NVDA, AMZN, AAPL, GOOGL and TSLA. NVDA and AMZN pay more premium than Apple for less cash; TSLA pays the most of the group, with the biggest swings.
Larger Accounts
MSFT, AMD, META and SPY each need over $50,000 for 100 shares. SPY pays the least but removes single-company risk; AMD pays the most and moves the most.
Covered Calls and Earnings
Implied volatility rises into an earnings report, so a call that spans one pays more. That extra premium is the market pricing a bigger move, and a big move up takes your shares at the strike while a big move down is yours to keep. Many traders close or roll before the report, or sell a call that expires just before it.
Check the date and the move options are pricing before you sell: AAPL, MSFT, NVDA, AMZN, GOOGL, META, AMD, TSLA, BAC. The earnings expected moves this week page lists every report coming up. After the report, IV usually drops fast: see IV crush.
Want dividends on top of premium? See the best dividend stocks for covered calls, which stacks dividend yield with call premium.
Run the numbers before you trade. Premium income, breakeven & return if assigned. Free, no signup. Or model any multi-leg trade in the options profit calculator.
Covered Call Calculator- Written by
- ApexVol Research Team
Quantitative options research. All calculations use live institutional-grade data — the same source professional volatility desks use. - Reviewed by
- Ryan Silk, ApexVol Founder
Reviewed for technical accuracy. 10+ years trading options; built ApexVol's pricing engine, Greeks model and IV-rank methodology.
Revised as market conditions and institutional data change. Last revised 2026-10-27. How we research →
Questions
About this ranking.
What are the best stocks for covered calls?
Stocks you would hold through a 20% drop, with deep options markets and enough implied volatility to pay a useful premium. On this list: AAPL, MSFT, NVDA, AMZN and GOOGL for steady income, META, AMD and TSLA for more premium with bigger swings, SPY for no single-company risk, and BAC for smaller accounts.
How much can you make selling covered calls?
On this list, a 25-delta call 30 days out pays roughly 0.5% (SPY) to a little over 2% (AMD) of the share price, before dividends. Multiplied out to a year that is about 7% to 28%, but only if you collect the same premium every month, never get called away and the stock does not fall. Treat the yearly number as a ceiling.
How much money do I need to sell covered calls?
Enough for 100 shares. On this list that runs from about $5,000 for BAC to over $75,000 for SPY; each pick shows the current figure. With less cash, a poor man's covered call uses a long-dated, deep in-the-money call in place of the shares, usually for a fraction of the cost.
Should I sell weekly or monthly covered calls?
Weekly calls collect more premium per year because time decay is fastest near expiry, but they need watching every week. Monthly calls (around 30 days) are easier to manage and leave more room before a move tests your strike. A common routine is to sell about 30 days out, close at 50% of the premium and roll when the stock nears the strike.
Is selling covered calls risky?
The risk is the stock itself. If it falls, you lose the same as any shareholder, less the premium. If it rallies past your strike, your shares are sold there and you miss the rest of the move. Choose stocks you would hold anyway, sell calls around 20 to 30 delta, and know when the company reports.
Should I sell covered calls through earnings?
A call that spans an earnings report pays more because implied volatility rises into the event. The trade-off is a gap: a big move up takes your shares at the strike, and a big move down is not cushioned much by the premium. Many traders sell a call that expires before the report, or close and roll ahead of it.
The free weekly IV report. IV rank movers, volatility notes and options market analysis, weekly.
No account needed. Unsubscribe any time.
Keep reading
Where this list
points next.
Read next
Run it, do not just read it
Read the ranking.
Then price the trade.
Every figure on this page comes from the same institutional data the Terminal runs on. Open it on AAPL and check the chain yourself, no account needed.
Real market data, not a sandbox. See it live on AAPL.