ASMH Covered Call Strategy
ASMH (ASML Holding NV ADRhedged), in the Financial Services sector, (Asset Management industry), listed on AMEX.
The Series, under normal circumstances, invests at least 95% of its net assets in American Depositary Receipts (“ADRs”) of the ASML Holding NV. It invests in the ADRs of the company and a currency swap designed to hedge against fluctuations in the exchange rate between the U.S. dollar and the Euro. The fund is non-diversified.
ASMH (ASML Holding NV ADRhedged) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $2.1M, a beta of 1.17 versus the broader market, a 52-week range of 46.74-106.91, average daily share volume of 2K, a public-listing history dating back to 2025. These structural characteristics shape how ASMH etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.17 places ASMH roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. ASMH pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a covered call on ASMH?
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.
Current ASMH snapshot
As of May 15, 2026, spot at $102.34, ATM IV 48.50%, expected move 13.90%. The covered call on ASMH below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 34-day expiry.
Why this covered call structure on ASMH specifically: IV rank is unavailable in the current snapshot, so regime-based timing for ASMH is inferred from ATM IV at 48.50% alone, with a market-implied 1-standard-deviation move of approximately 13.90% (roughly $14.23 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ASMH expiries trade a higher absolute premium for lower per-day decay. Position sizing on ASMH should anchor to the underlying notional of $102.34 per share and to the trader's directional view on ASMH etf.
ASMH covered call setup
The ASMH covered call below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ASMH near $102.34, the first option leg uses a $107.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ASMH chain at a 34-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 ASMH shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $102.34 | long |
| Sell 1 | Call | $107.00 | $4.48 |
ASMH covered call risk and reward
- Net Premium / Debit
- -$9,786.50
- Max Profit (per contract)
- $913.50
- Max Loss (per contract)
- -$9,785.50
- Breakeven(s)
- $97.87
- Risk / Reward Ratio
- 0.093
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.
ASMH covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on ASMH. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$9,785.50 |
| $22.64 | -77.9% | -$7,522.82 |
| $45.26 | -55.8% | -$5,260.13 |
| $67.89 | -33.7% | -$2,997.45 |
| $90.52 | -11.6% | -$734.77 |
| $113.14 | +10.6% | +$913.50 |
| $135.77 | +32.7% | +$913.50 |
| $158.40 | +54.8% | +$913.50 |
| $181.02 | +76.9% | +$913.50 |
| $203.65 | +99.0% | +$913.50 |
When traders use covered call on ASMH
Covered calls on ASMH are an income strategy run on existing ASMH etf positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
ASMH thesis for this covered call
The market-implied 1-standard-deviation range for ASMH extends from approximately $88.11 on the downside to $116.57 on the upside. A ASMH covered call collects premium on an existing long ASMH position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether ASMH will breach that level within the expiration window. As a Financial Services name, ASMH options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ASMH-specific events.
ASMH 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. ASMH positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ASMH alongside the broader basket even when ASMH-specific fundamentals are unchanged. Short-premium structures like a covered call on ASMH carry tail risk when realized volatility exceeds the implied move; review historical ASMH earnings reactions and macro stress periods before sizing. Always rebuild the position from current ASMH chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on ASMH?
- A covered call on ASMH is the covered call strategy applied to ASMH (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 ASMH etf trading near $102.34, the strikes shown on this page are snapped to the nearest listed ASMH chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ASMH 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 ASMH covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 48.50%), the computed maximum profit is $913.50 per contract and the computed maximum loss is -$9,785.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ASMH covered call?
- The breakeven for the ASMH covered call priced on this page is roughly $97.87 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current ASMH market-implied 1-standard-deviation expected move is approximately 13.90%; 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 ASMH?
- Covered calls on ASMH are an income strategy run on existing ASMH 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 ASMH implied volatility affect this covered call?
- Current ASMH ATM IV is 48.50%; IV rank context is unavailable in the current snapshot.