Learn covered calls, one lesson at a time.

Twenty short lessons that take you from "what is a covered call" to "I know exactly what I'm doing." Read in order, or jump to any topic you want.

Brand new to options? Start with Lesson 1.

Know what a covered call is? Jump to Lesson 2.

Already placing covered calls? Start with Part 4.

Or browse by topic

Looking for something specific? The full library is organized by topic below.

Floor Prices & Execution

What the Floor Price Means and Why It Matters

Before any covered call analysis reaches you, it passes a filter. The filter asks one question: does the premium on this option clear the minimum threshold for this position to make sense?

Bid, Ask, and Mid: How Option Prices Work in Practice

Open any options chain and you'll see two prices side by side: the bid and the ask. They're never the same number, and the gap between them is the first thing to understand before placing a covered call order.