Top 5 Conservative Covered Calls — Week of March 22, 2026
This Week's Picks
All five picks this week are at least 8% out of the money with no earnings announcements before the option expiration date. The goal is simple: collect premium with a high probability of keeping your shares.
Market conditions this week favor covered call sellers. VIX is at 18.24, providing healthy premium levels without excessive uncertainty. The GEX regime is positive across most large-caps, suggesting lower-than-average realized volatility ahead.
1. AAPL — Apple Inc.
Strike: $205 | Expiration: April 18 | Premium: $1.20/share ($120/contract) | Annualized Return: 9.2%
Apple is trading at $189.20 with a positive GEX profile that suggests the stock will remain range-bound near term. The $205 strike is 8.4% OTM with no earnings before expiration. Next ex-dividend date is April 10, which actually helps — if your shares get called away before the ex-date, you avoid the dividend risk. This is a classic conservative pick.
2. SOFI — SoFi Technologies
Strike: $15.00 | Expiration: April 11 | Premium: $0.62/share ($62/contract) | Annualized Return: 42.8%
SOFI continues to offer exceptional premium relative to its stock price. The $15 strike is well above the current trading range, and the elevated IV rank of 71 means you are being well compensated for the risk. No earnings risk in the near term.
3. TSLA — Tesla Inc.
Strike: $280.00 | Expiration: April 25 | Premium: $12.40/share ($1,240/contract) | Annualized Return: 28.6%
Tesla always commands high premiums due to its elevated implied volatility. The $280 strike gives substantial upside room. Be aware that earnings are April 22 AMC — this expiration is April 25, so you carry overnight earnings risk. For that reason, this is the most aggressive pick this week.
4. AMD — Advanced Micro Devices
Strike: $165.00 | Expiration: April 11 | Premium: $4.10/share ($410/contract) | Annualized Return: 31.5%
AMD has been consolidating in a tight range. GEX is neutral-to-positive. The April 11 expiration safely avoids the April 29 earnings date. Premium is rich due to sector-wide IV elevation ahead of NVDA GTC.
5. INTC — Intel Corporation
Strike: $25.00 | Expiration: April 11 | Premium: $0.85/share ($85/contract) | Annualized Return: 38.2%
Intel remains a premium-rich covered call candidate. The turnaround narrative keeps IV elevated while the stock price stays range-bound. No catalysts expected before April 11 expiration.
Portfolio Impact
If you wrote all five covered calls this week, total premium collected would be $1,917. Based on the underlying capital required, the weighted annualized return is approximately 24.3%.
Key Terms
OTM (Out of the Money) — Strike price above the current stock price for calls
Annualized Return — The premium yield scaled to a full year for comparison purposes
GEX (Gamma Exposure) — Net gamma exposure of dealers, positive suggests lower volatility