The same covered call at entry, the SPY peak, the dip, and the final session
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-07-16, from Covered Calls: Income on Your Shares.
| stage | spy_price | call_value | moneyness | covered_value |
|---|---|---|---|---|
| 1. Sold the call (May 1) | 720 | 7.22 | below 740 strike | 720 |
| 2. SPY peak (Jun 2) | 759.63 | 23.5 | above 740 strike | 743.35 |
| 3. SPY dip (Jun 10) | 722.88 | 3.17 | below 740 strike | 726.93 |
| 4. Final session (Jun 15) | 753.91 | 15.41 | above 740 strike | 745.72 |
- Rows × columns
- 4 × 5
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
stage |
text | 4 distinct values | |
spy_price |
number | 720 to 759.63 | US dollars |
call_value |
number | 3.17 to 23.5 | |
moneyness |
text | 2 distinct values (above 740 strike, below 740 strike) | |
covered_value |
number | 720 to 745.72 |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
the exact SQL behind every number
WITH prem AS (
SELECT avg(option_close) AS p
FROM global_markets.options_greeks
WHERE ticker = 'O:SPY260618C00740000' AND date = '2026-05-01' AND implied_volatility > 0.02
)
SELECT multiIf(g.date = '2026-05-01', '1. Sold the call (May 1)',
g.date = '2026-06-02', '2. SPY peak (Jun 2)',
g.date = '2026-06-10', '3. SPY dip (Jun 10)', '4. Final session (Jun 15)') AS stage,
round(avg(g.underlying_close), 2) AS spy_price,
round(avg(g.option_close), 2) AS call_value,
if(avg(g.underlying_close) > 740, 'above 740 strike', 'below 740 strike') AS moneyness,
round(avg(g.underlying_close) + any(prem.p) - avg(g.option_close), 2) AS covered_value
FROM global_markets.options_greeks g, prem
WHERE g.ticker = 'O:SPY260618C00740000'
AND g.date IN ('2026-05-01', '2026-06-02', '2026-06-10', '2026-06-15')
AND g.implied_volatility > 0.02
GROUP BY g.date ORDER BY g.date
Run your own version of this
The same 22 years of US equities and 12 years of options data are queryable in SQL or plain English. A free account runs 100 queries a day and takes no card.
More from this analysisCovered Calls: Income on Your Shares
Buy-and-hold SPY vs the covered call, per-share value over 7 weeks
series 31×3
→
The $740 call you sold, daily value over its 7-week life
series 31×2
→
Three years of total return, split into price change and distributions: July 2023 to June 2026
table 8×7
→
Both positions at four moments: entry, three weeks in, the SPY high, and the June dip
table 4×5
→
Price path indexed to 100: two index funds and their covered call counterparts, month ends
series 36×5
→
Covered call vs cash-secured put: profit and loss per share, same strike, same expiry
series 29×3
→
See all 2,173 queries →