CLSK Covered Call Strategy
CLSK (CleanSpark, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
CleanSpark, Inc. provides bitcoin mining and energy technology solutions worldwide. It operates in two segments, Digital Currency Mining and Energy. The Digital Currency Mining segment engages in mining of bitcoin. The energy segment provides engineering, design and software, custom hardware, open automated demand response, solar, and energy storage solutions for microgrids and distributed energy systems to military, commercial, and residential customers; and develops platforms that enables designing, building, operating, and managing of energy assets. This segment also offers microgrid energy modeling, energy market communications, and energy management solutions comprising mPulse and mVoult, which are control platforms that enables integration and optimization of multiple energy sources; Canvas, a middleware for grid operators and aggregators to administrate load shifting programs; Plaid, a middleware for controls and Internet-of-Things products companies to participate in load shifting programs; and mVSO, an energy modeling software for internal microgrid design, as well as owns gasification energy technologies for various applications, such as feedstock for the generation of di-methyl ether. In addition, it provides design, software development, and other technology-based consulting services; data center services, including rack space, power, and equipment; and various cloud services, such as virtual, virtual storage, and data backup services.
CLSK (CleanSpark, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $3.41B, a beta of 3.72 versus the broader market, a 52-week range of 8-23.61, average daily share volume of 22.2M, a public-listing history dating back to 2016, approximately 256 full-time employees. These structural characteristics shape how CLSK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 3.72 indicates CLSK has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a covered call on CLSK?
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 CLSK snapshot
As of May 15, 2026, spot at $13.27, ATM IV 83.34%, IV rank 28.97%, expected move 23.89%. The covered call on CLSK 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 28-day expiry.
Why this covered call structure on CLSK specifically: CLSK IV at 83.34% is on the cheap side of its 1-year range, which means a premium-selling CLSK covered call collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 23.89% (roughly $3.17 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 CLSK expiries trade a higher absolute premium for lower per-day decay. Position sizing on CLSK should anchor to the underlying notional of $13.27 per share and to the trader's directional view on CLSK stock.
CLSK covered call setup
The CLSK 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 CLSK near $13.27, the first option leg uses a $14.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CLSK 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 CLSK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $13.27 | long |
| Sell 1 | Call | $14.00 | $0.94 |
CLSK covered call risk and reward
- Net Premium / Debit
- -$1,233.00
- Max Profit (per contract)
- $167.00
- Max Loss (per contract)
- -$1,232.00
- Breakeven(s)
- $12.33
- Risk / Reward Ratio
- 0.136
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.
CLSK covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on CLSK. 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 | -99.9% | -$1,232.00 |
| $2.94 | -77.8% | -$938.70 |
| $5.88 | -55.7% | -$645.41 |
| $8.81 | -33.6% | -$352.11 |
| $11.74 | -11.5% | -$58.81 |
| $14.67 | +10.6% | +$167.00 |
| $17.61 | +32.7% | +$167.00 |
| $20.54 | +54.8% | +$167.00 |
| $23.47 | +76.9% | +$167.00 |
| $26.41 | +99.0% | +$167.00 |
When traders use covered call on CLSK
Covered calls on CLSK are an income strategy run on existing CLSK stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
CLSK thesis for this covered call
The market-implied 1-standard-deviation range for CLSK extends from approximately $10.10 on the downside to $16.44 on the upside. A CLSK covered call collects premium on an existing long CLSK position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether CLSK will breach that level within the expiration window. Current CLSK IV rank near 28.97% 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 CLSK at 83.34%. As a Technology name, CLSK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CLSK-specific events.
CLSK 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. CLSK positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CLSK alongside the broader basket even when CLSK-specific fundamentals are unchanged. Short-premium structures like a covered call on CLSK carry tail risk when realized volatility exceeds the implied move; review historical CLSK earnings reactions and macro stress periods before sizing. Always rebuild the position from current CLSK chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on CLSK?
- A covered call on CLSK is the covered call strategy applied to CLSK (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 CLSK stock trading near $13.27, the strikes shown on this page are snapped to the nearest listed CLSK chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CLSK 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 CLSK covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 83.34%), the computed maximum profit is $167.00 per contract and the computed maximum loss is -$1,232.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CLSK covered call?
- The breakeven for the CLSK covered call priced on this page is roughly $12.33 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 CLSK market-implied 1-standard-deviation expected move is approximately 23.89%; 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 CLSK?
- Covered calls on CLSK are an income strategy run on existing CLSK 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 CLSK implied volatility affect this covered call?
- CLSK ATM IV is at 83.34% with IV rank near 28.97%, 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.