How are HAUZ 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 HAUZ covered call priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 497.60%), the computed maximum profit is $159.00 per contract and the computed maximum loss is -$2,240.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a HAUZ covered call?

The breakeven for the HAUZ covered call priced on this page is roughly $22.41 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 HAUZ market-implied 1-standard-deviation expected move in the same options snapshot is approximately 142.66%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current HAUZ implied volatility affect this covered call?

HAUZ ATM IV is at 497.60% with IV rank near 100.00%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

HAUZ Covered Call Strategy

HAUZ (Xtrackers International Real Estate ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.

The Xtrackers International Real Estate ETF is designed to achieve investment returns that closely parallel the performance of the iSTOXX Developed and Emerging Markets ex USA PK VN Real Estate Index, prior to any deductions for fees and expenses.

HAUZ (Xtrackers International Real Estate ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $1.01B, a beta of 0.99 versus the broader market, a 52-week range of 21.84-25.73, average daily share volume of 98K, a public-listing history dating back to 2013. These structural characteristics shape how HAUZ etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.99 places HAUZ roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. HAUZ pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a covered call on HAUZ?

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.

HAUZ snapshot

As of August 14, 2026, spot at $22.90, ATM IV 497.60%, IV rank 100.00%, expected move 142.66%. The covered call on HAUZ 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 35-day expiry.

Why this covered call structure on HAUZ specifically: HAUZ IV at 497.60% is rich versus its 1-year range, which favors premium-selling structures like a HAUZ covered call, with a market-implied 1-standard-deviation move of approximately 142.66% (roughly $32.67 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated HAUZ expiries trade a higher absolute premium for lower per-day decay. Position sizing on HAUZ should anchor to the underlying notional of $22.90 per share and to the trader's directional view on HAUZ etf.

HAUZ covered call setup

The HAUZ 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 HAUZ at $22.90 on that close, the first option leg uses a $24.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HAUZ chain at a 35-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 HAUZ shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$22.90	long
Sell 1	Call	$24.00	$0.49

HAUZ covered call risk and reward

Net Premium / Debit: -$2,241.00
Max Profit (per contract): $159.00
Max Loss (per contract): -$2,240.00
Breakeven(s): $22.41
Risk / Reward Ratio: 0.071

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.

HAUZ covered call payoff curve

Modeled P&L at expiration across a range of underlying prices for the covered call on HAUZ. 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%	-$2,240.00
$5.07	-77.9%	-$1,733.78
$10.13	-55.7%	-$1,227.56
$15.20	-33.6%	-$721.34
$20.26	-11.5%	-$215.12
$25.32	+10.6%	+$159.00
$30.38	+32.7%	+$159.00
$35.45	+54.8%	+$159.00
$40.51	+76.9%	+$159.00
$45.57	+99.0%	+$159.00

When traders use covered call on HAUZ

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

HAUZ thesis for this covered call

The market-implied 1-standard-deviation range for HAUZ extends from approximately $-9.77 on the downside to $55.57 on the upside. A HAUZ covered call collects premium on an existing long HAUZ position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether HAUZ will breach that level within the expiration window. Current HAUZ IV rank near 100.00% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on HAUZ at 497.60%. As a Financial Services name, HAUZ options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HAUZ-specific events.

HAUZ 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. HAUZ positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HAUZ alongside the broader basket even when HAUZ-specific fundamentals are unchanged. Short-premium structures like a covered call on HAUZ carry tail risk when realized volatility exceeds the implied move; review historical HAUZ earnings reactions and macro stress periods before sizing. Always rebuild the position from current HAUZ chain quotes before placing a trade.

Frequently asked questions

What is a covered call on HAUZ?: A covered call on HAUZ is the covered call strategy applied to HAUZ (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 HAUZ etf at $22.90 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed HAUZ chain strike and the premiums come straight from that session's bid/ask midpoint.
How are HAUZ 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 HAUZ covered call priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 497.60%), the computed maximum profit is $159.00 per contract and the computed maximum loss is -$2,240.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a HAUZ covered call?: The breakeven for the HAUZ covered call priced on this page is roughly $22.41 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 HAUZ market-implied 1-standard-deviation expected move in the same options snapshot is approximately 142.66%; 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 HAUZ?: Covered calls on HAUZ are an income strategy run on existing HAUZ 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 HAUZ implied volatility affect this covered call?: HAUZ ATM IV is at 497.60% with IV rank near 100.00%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.