ADSK Covered Call Strategy
ADSK (Autodesk, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
Autodesk, Inc. delivers advanced software and services for 3D design, engineering, and entertainment to a global clientele. Their diverse product line includes AutoCAD Civil 3D, a comprehensive solution for civil engineering tasks such as land development, transportation infrastructure, and environmental projects. For construction project management, they offer BIM 360, a cloud-based platform. Core design and drafting needs are met by AutoCAD and its specialized counterpart, AutoCAD LT. The company also provides CAM software, essential for computer numeric control (CNC) machining, inspection, and manufacturing modeling, alongside Fusion 360, an integrated platform for 3D CAD, CAM, and computer-aided engineering. Autodesk further provides curated Industry Collections, offering comprehensive toolsets for professionals in architecture, engineering, and construction (AEC), product design and manufacturing (PDM), and media and entertainment sectors.
ADSK (Autodesk, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $52.68B, a trailing P/E of 35.99, a beta of 1.30 versus the broader market, a 52-week range of 185.5-329.09, average daily share volume of 2.4M, a public-listing history dating back to 1985, approximately 14K full-time employees. These structural characteristics shape how ADSK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.30 places ADSK roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 35.99 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple. ADSK pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a covered call on ADSK?
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.
ADSK snapshot
As of August 14, 2026, spot at $252.06, ATM IV 51.70%, IV rank 78.29%, expected move 14.82%. The covered call on ADSK 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 ADSK specifically: ADSK IV at 51.70% is rich versus its 1-year range, which favors premium-selling structures like a ADSK covered call, with a market-implied 1-standard-deviation move of approximately 14.82% (roughly $37.36 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 ADSK expiries trade a higher absolute premium for lower per-day decay. Position sizing on ADSK should anchor to the underlying notional of $252.06 per share and to the trader's directional view on ADSK stock.
ADSK covered call setup
The ADSK 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 ADSK at $252.06 on that close, the first option leg uses a $265.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ADSK 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 ADSK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $252.06 | long |
| Sell 1 | Call | $265.00 | $9.60 |
ADSK covered call risk and reward
- Net Premium / Debit
- -$24,246.00
- Max Profit (per contract)
- $2,254.00
- Max Loss (per contract)
- -$24,245.00
- Breakeven(s)
- $242.46
- 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.
ADSK covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on ADSK. 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% | -$24,245.00 |
| $55.74 | -77.9% | -$18,671.92 |
| $111.47 | -55.8% | -$13,098.85 |
| $167.20 | -33.7% | -$7,525.77 |
| $222.93 | -11.6% | -$1,952.70 |
| $278.66 | +10.6% | +$2,254.00 |
| $334.39 | +32.7% | +$2,254.00 |
| $390.13 | +54.8% | +$2,254.00 |
| $445.86 | +76.9% | +$2,254.00 |
| $501.59 | +99.0% | +$2,254.00 |
When traders use covered call on ADSK
Covered calls on ADSK are an income strategy run on existing ADSK stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
ADSK thesis for this covered call
The market-implied 1-standard-deviation range for ADSK extends from approximately $214.70 on the downside to $289.42 on the upside. A ADSK covered call collects premium on an existing long ADSK position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether ADSK will breach that level within the expiration window. Current ADSK IV rank near 78.29% 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 ADSK at 51.70%. As a Technology name, ADSK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ADSK-specific events.
ADSK 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. ADSK positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ADSK alongside the broader basket even when ADSK-specific fundamentals are unchanged. Short-premium structures like a covered call on ADSK carry tail risk when realized volatility exceeds the implied move; review historical ADSK earnings reactions and macro stress periods before sizing. Always rebuild the position from current ADSK chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on ADSK?
- A covered call on ADSK is the covered call strategy applied to ADSK (stock). 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 ADSK stock at $252.06 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ADSK chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ADSK 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 ADSK covered call priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 51.70%), the computed maximum profit is $2,254.00 per contract and the computed maximum loss is -$24,245.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ADSK covered call?
- The breakeven for the ADSK covered call priced on this page is roughly $242.46 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 ADSK market-implied 1-standard-deviation expected move in the same options snapshot is approximately 14.82%; 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 ADSK?
- Covered calls on ADSK are an income strategy run on existing ADSK stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
- How does current ADSK implied volatility affect this covered call?
- ADSK ATM IV is at 51.70% with IV rank near 78.29%, 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.