ANGO Covered Call Strategy
ANGO (AngioDynamics, Inc.), in the Healthcare sector, (Medical - Instruments & Supplies industry), listed on NASDAQ.
AngioDynamics, Inc. designs, manufactures, and sells various medical, surgical, and diagnostic devices used by professional healthcare providers for the treatment of peripheral vascular disease and vascular access; and for use in oncology and surgical settings in the United States and internationally. The company provides NanoKnife ablation systems for the surgical ablation of soft tissues; solero microwave tissue ablation systems; and radiofrequency ablation products for ablating solid cancerous or benign tumors. It also offers BioSentry tract sealant systems, IsoLoc Endorectal Balloon's, alatus vaginal balloon packing systems, angiographic catheters, guidewires, percutaneous drainage catheters, and coaxial micro-introducer kits. In addition, the company provides endovascular therapies products in the areas of thrombus management, atherectomy, peripheral products (Core), and venous insufficiency. Additionally, the company offers peripherally inserted central catheters, midline catheters, implantable ports, dialysis catheters, and related accessories and supplies that are used primarily to deliver short-term drug therapies, such as chemotherapeutic agents and antibiotics, into the central venous system under the BioFlo, BioFlo Midline, BioFlo PICC, Xcela PICC, PASV, BioFlo Port, SmartPort, Vortex, LifeGuard, BioFlo DuraMax, and DuraMax names. It sells and markets its products to interventional radiologists, interventional cardiologists, vascular surgeons, urologists, interventional and surgical oncologists, and critical care nurses directly, as well as through distributor relationships.
ANGO (AngioDynamics, Inc.) trades in the Healthcare sector, specifically Medical - Instruments & Supplies, with a market capitalization of approximately $447.9M, a beta of 0.37 versus the broader market, a 52-week range of 8.36-13.99, average daily share volume of 398K, a public-listing history dating back to 2004, approximately 748 full-time employees. These structural characteristics shape how ANGO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.37 indicates ANGO has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a covered call on ANGO?
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 ANGO snapshot
As of May 15, 2026, spot at $10.84, ATM IV 105.10%, IV rank 25.39%, expected move 30.13%. The covered call on ANGO 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 ANGO specifically: ANGO IV at 105.10% is on the cheap side of its 1-year range, which means a premium-selling ANGO covered call collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 30.13% (roughly $3.27 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 ANGO expiries trade a higher absolute premium for lower per-day decay. Position sizing on ANGO should anchor to the underlying notional of $10.84 per share and to the trader's directional view on ANGO stock.
ANGO covered call setup
The ANGO 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 ANGO near $10.84, the first option leg uses a $11.38 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ANGO 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 ANGO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $10.84 | long |
| Sell 1 | Call | $11.38 | N/A |
ANGO covered call risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
ANGO covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on ANGO. 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.
When traders use covered call on ANGO
Covered calls on ANGO are an income strategy run on existing ANGO stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
ANGO thesis for this covered call
The market-implied 1-standard-deviation range for ANGO extends from approximately $7.57 on the downside to $14.11 on the upside. A ANGO covered call collects premium on an existing long ANGO position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether ANGO will breach that level within the expiration window. Current ANGO IV rank near 25.39% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on ANGO at 105.10%. As a Healthcare name, ANGO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ANGO-specific events.
ANGO 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. ANGO positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ANGO alongside the broader basket even when ANGO-specific fundamentals are unchanged. Short-premium structures like a covered call on ANGO carry tail risk when realized volatility exceeds the implied move; review historical ANGO earnings reactions and macro stress periods before sizing. Always rebuild the position from current ANGO chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on ANGO?
- A covered call on ANGO is the covered call strategy applied to ANGO (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 ANGO stock trading near $10.84, the strikes shown on this page are snapped to the nearest listed ANGO chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ANGO 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 ANGO covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 105.10%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ANGO covered call?
- The breakeven for the ANGO covered call priced on this page is no defined breakeven on the modeled curve 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 ANGO market-implied 1-standard-deviation expected move is approximately 30.13%; 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 ANGO?
- Covered calls on ANGO are an income strategy run on existing ANGO 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 ANGO implied volatility affect this covered call?
- ANGO ATM IV is at 105.10% with IV rank near 25.39%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.