CCSI Covered Call Strategy
CCSI (Consensus Cloud Solutions, Inc.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.
Consensus Cloud Solutions, Inc., together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. Its products and solutions include eFax, an online faxing solution, as well as MyFax, MetroFax, Sfax, SRfax, and other brands; eFax Corporate, a digital cloud-fax technology; jsign, which provides electronic and digital signature solutions; Unite, a single platform that allows the user to choose between several protocols to send and receive healthcare information in an environment that can integrate into an existing electronic health record (EHR) system or stand-alone if no EHR is present; Signal, a solution that integrates with a hospital's EHR system and uses rules-based triggering logic to automatically send admit, discharge, and transfer notifications using cloud fax and direct secure messaging technology; and Clarity that transforms unstructured documents into structured actionable data. It serves healthcare, education, law, and financial services industries. Consensus Cloud Solutions, Inc. was incorporated in 2021 and is headquartered in Los Angeles, California.
CCSI (Consensus Cloud Solutions, Inc.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $525.6M, a trailing P/E of 6.07, a beta of 1.84 versus the broader market, a 52-week range of 19.42-37.3, average daily share volume of 172K, a public-listing history dating back to 2021, approximately 518 full-time employees. These structural characteristics shape how CCSI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.84 indicates CCSI has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 6.07 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price.
What is a covered call on CCSI?
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 CCSI snapshot
As of May 15, 2026, spot at $28.23, ATM IV 57.80%, IV rank 6.40%, expected move 16.57%. The covered call on CCSI 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 CCSI specifically: CCSI IV at 57.80% is on the cheap side of its 1-year range, which means a premium-selling CCSI covered call collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 16.57% (roughly $4.68 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 CCSI expiries trade a higher absolute premium for lower per-day decay. Position sizing on CCSI should anchor to the underlying notional of $28.23 per share and to the trader's directional view on CCSI stock.
CCSI covered call setup
The CCSI 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 CCSI near $28.23, the first option leg uses a $29.64 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CCSI 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 CCSI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $28.23 | long |
| Sell 1 | Call | $29.64 | N/A |
CCSI 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.
CCSI covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on CCSI. 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 CCSI
Covered calls on CCSI are an income strategy run on existing CCSI stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
CCSI thesis for this covered call
The market-implied 1-standard-deviation range for CCSI extends from approximately $23.55 on the downside to $32.91 on the upside. A CCSI covered call collects premium on an existing long CCSI position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether CCSI will breach that level within the expiration window. Current CCSI IV rank near 6.40% 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 CCSI at 57.80%. As a Technology name, CCSI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CCSI-specific events.
CCSI 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. CCSI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CCSI alongside the broader basket even when CCSI-specific fundamentals are unchanged. Short-premium structures like a covered call on CCSI carry tail risk when realized volatility exceeds the implied move; review historical CCSI earnings reactions and macro stress periods before sizing. Always rebuild the position from current CCSI chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on CCSI?
- A covered call on CCSI is the covered call strategy applied to CCSI (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 CCSI stock trading near $28.23, the strikes shown on this page are snapped to the nearest listed CCSI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CCSI 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 CCSI covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 57.80%), 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 CCSI covered call?
- The breakeven for the CCSI 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 CCSI market-implied 1-standard-deviation expected move is approximately 16.57%; 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 CCSI?
- Covered calls on CCSI are an income strategy run on existing CCSI 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 CCSI implied volatility affect this covered call?
- CCSI ATM IV is at 57.80% with IV rank near 6.40%, 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.