PFE covered call calculator
Live yields, downside cushion, and ex-dividend assignment warnings for Pfizer Inc..
Top 10 PFE covered call strikes by annualized yield
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How covered calls work on PFE
A covered call on PFE means you own 100 shares (or a multiple of 100) and sell someone the right to buy them from you at a higher price (the strike) by a fixed date (the expiration). They pay you cash upfront (the premium). For the full mechanics, strike-selection rules, and rolling playbook, read the complete covered-calls guide.
Three outcomes:
- PFE stays below the strike at expiry → you keep the premium and the shares.
- PFE closes above the strike at expiry → your shares are sold at the strike. You realized the upside to the strike plus the premium.
- Early assignment → happens occasionally before ex-dividend dates if the dividend exceeds the call's time value.
PFE-specific risk considerations
Modest implied volatility — predictable premiums with manageable risk. PFE pays a substantial 6.0% dividend. This makes early-assignment risk around ex-dividend dates a real consideration for covered-call sellers — if the dividend exceeds the call's remaining time value, expect the call to be exercised early. See our deep-dive on covered calls on dividend stocks for ex-div timing tactics.
How to use the PFE covered call calculator
- The calculator pre-loads the PFE live chain. Pick an expiration from the dropdown.
- Pick a strike. The Top 10 list above shows the highest-yielding strikes; you can also browse all strikes manually.
- Enter your cost basis (what you paid for PFE) so the static and annualized yields reflect your actual cost.
- Read the results: static yield, if-called annualized return, downside cushion, and any ex-dividend assignment warnings.
Related strategies on PFE
- Cash-secured puts on PFE — collect premium for the obligation to buy at a lower price
- PFE wheel strategy — full CC + CSP cycle for compounding income
- PFE options overview — all strategies, all expirations
Related tickers for covered-call writing
FAQ
How is annualized yield calculated on a PFE covered call?
Annualized yield = (Premium ÷ Cost basis) × (365 ÷ days to expiration). The calculator also produces an if-called annualized return that bakes in any upside to the strike and dividends collected before expiration.
What's a good delta for a PFE covered call?
Most PFE covered-call sellers target 0.20–0.35 delta. Lower delta gives lower yield with reduced assignment risk; higher delta gives more premium with greater chance of being called away. The strike-selection guide walks through the trade-offs in detail.
Should I worry about early assignment on PFE?
PFE pays a substantial 6.0% dividend. This makes early-assignment risk around ex-dividend dates a real consideration for covered-call sellers — if the dividend exceeds the call's remaining time value, expect the call to be exercised early. For the full mechanic of when and why short calls get exercised early, see early assignment explained.