How are AMDL covered call max profit and max loss calculated?

Max profit equals short-strike minus cost basis plus premium times 100; max loss is cost basis minus premium (at zero). Breakeven is cost basis minus premium. For the AMDL covered call priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 109.97%), the computed maximum profit is $820.00 per contract and the computed maximum loss is -$5,179.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a AMDL covered call?

The breakeven for the AMDL covered call priced on this page is roughly $51.80 at expiration, derived from the August 14, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The AMDL market-implied 1-standard-deviation expected move in the same options snapshot is approximately 31.53%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current AMDL implied volatility affect this covered call?

AMDL ATM IV is at 109.97% with IV rank near 33.97%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.

AMDL Covered Call Strategy

AMDL (GraniteShares 2x Long AMD Daily ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

This exchange-traded fund (ETF) aims to achieve daily investment results equivalent to twice (200%) the daily percentage movement of Advanced Micro Devices, Inc. (AMD, NASDAQ: AMD) common stock, prior to fees and expenses. However, the successful attainment of this daily objective is not guaranteed. Investors should note that the fund is not structured to deliver double the cumulative return of AMD for holding periods extending beyond a single day.

AMDL (GraniteShares 2x Long AMD Daily ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $1.18B, a beta of 8.79 versus the broader market, a 52-week range of 8.875-83.79, average daily share volume of 7.1M, a public-listing history dating back to 2024. These structural characteristics shape how AMDL etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 8.79 indicates AMDL has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.

What is a covered call on AMDL?

A covered call pairs long stock with a short out-of-the-money call, collecting premium and capping upside above the short strike in exchange for income.

AMDL snapshot

As of August 14, 2026, spot at $57.55, ATM IV 109.97%, IV rank 33.97%, expected move 31.53%. The covered call on AMDL below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 28-day expiry.

Why this covered call structure on AMDL specifically: AMDL IV at 109.97% is mid-range versus its 1-year history, so the credit collected on a AMDL covered call sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 31.53% (roughly $18.14 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AMDL expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMDL should anchor to the underlying notional of $57.55 per share and to the trader's directional view on AMDL etf.

AMDL covered call setup

The AMDL covered call below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AMDL at $57.55 on that close, the first option leg uses a $60.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMDL chain at a 28-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 AMDL shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$57.55	long
Sell 1	Call	$60.00	$5.75

AMDL covered call risk and reward

Net Premium / Debit: -$5,180.00
Max Profit (per contract): $820.00
Max Loss (per contract): -$5,179.00
Breakeven(s): $51.80
Risk / Reward Ratio: 0.158

Max profit equals short-strike minus cost basis plus premium times 100; max loss is cost basis minus premium (at zero). Breakeven is cost basis minus premium.

AMDL covered call payoff curve

Modeled P&L at expiration across a range of underlying prices for the covered call on AMDL. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$5,179.00
$12.73	-77.9%	-$3,906.65
$25.46	-55.8%	-$2,634.30
$38.18	-33.7%	-$1,361.94
$50.90	-11.5%	-$89.59
$63.63	+10.6%	+$820.00
$76.35	+32.7%	+$820.00
$89.07	+54.8%	+$820.00
$101.80	+76.9%	+$820.00
$114.52	+99.0%	+$820.00

When traders use covered call on AMDL

Covered calls on AMDL are an income strategy run on existing AMDL etf positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.

AMDL thesis for this covered call

The market-implied 1-standard-deviation range for AMDL extends from approximately $39.41 on the downside to $75.69 on the upside. A AMDL covered call collects premium on an existing long AMDL position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether AMDL will breach that level within the expiration window. Current AMDL IV rank near 33.97% is mid-range against its 1-year distribution, so the IV signal is neutral; the covered call thesis on AMDL should anchor more to the directional view and the expected-move geometry. As a Financial Services name, AMDL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMDL-specific events.

AMDL covered call positions are structurally neutral to slightly bullish; the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. AMDL positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AMDL alongside the broader basket even when AMDL-specific fundamentals are unchanged. Short-premium structures like a covered call on AMDL carry tail risk when realized volatility exceeds the implied move; review historical AMDL earnings reactions and macro stress periods before sizing. Always rebuild the position from current AMDL chain quotes before placing a trade.

Frequently asked questions

What is a covered call on AMDL?: A covered call on AMDL is the covered call strategy applied to AMDL (etf). The strategy is structurally neutral to slightly bullish: A covered call pairs long stock with a short out-of-the-money call, collecting premium and capping upside above the short strike in exchange for income. With AMDL etf at $57.55 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed AMDL chain strike and the premiums come straight from that session's bid/ask midpoint.
How are AMDL covered call max profit and max loss calculated?: Max profit equals short-strike minus cost basis plus premium times 100; max loss is cost basis minus premium (at zero). Breakeven is cost basis minus premium. For the AMDL covered call priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 109.97%), the computed maximum profit is $820.00 per contract and the computed maximum loss is -$5,179.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a AMDL covered call?: The breakeven for the AMDL covered call priced on this page is roughly $51.80 at expiration, derived from the August 14, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The AMDL market-implied 1-standard-deviation expected move in the same options snapshot is approximately 31.53%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a covered call on AMDL?: Covered calls on AMDL are an income strategy run on existing AMDL etf positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
How does current AMDL implied volatility affect this covered call?: AMDL ATM IV is at 109.97% with IV rank near 33.97%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.