EVR Covered Call Strategy
EVR (Evercore Inc.), in the Financial Services sector, (Financial - Capital Markets industry), listed on NYSE.
Evercore Inc., together with its subsidiaries, operates as an independent investment banking advisory firm in the United States, Europe, Latin America, and internationally. It operates through two segments, Investment Banking and Investment Management. The Investment Banking segment offers strategic advisory services, such as mergers and acquisitions, strategic, defense, and shareholder advisory, special committee assignments, and transaction structuring; Capital Markets Advisory, including equity capital markets, restructuring, debt advisory, private placement advisory, market risk management and hedging, private capital advisory, and private funds; and research, sales, and trading professionals services on a content-led platform to its institutional investor clients. The Investment Management segment provides wealth management services to high-net-worth individuals, foundations, and endowments; and manages financial assets for institutional investors. The company was formerly known as Evercore Partners Inc. and changed its name to Evercore Inc. in August 2017. Evercore Inc. was founded in 1995 and is headquartered in New York, New York.
EVR (Evercore Inc.) trades in the Financial Services sector, specifically Financial - Capital Markets, with a market capitalization of approximately $13.32B, a trailing P/E of 17.55, a beta of 1.49 versus the broader market, a 52-week range of 217.19-388.71, average daily share volume of 651K, a public-listing history dating back to 2006, approximately 2K full-time employees. These structural characteristics shape how EVR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.49 indicates EVR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. EVR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a covered call on EVR?
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 EVR snapshot
As of May 15, 2026, spot at $335.03, ATM IV 37.80%, IV rank 39.45%, expected move 10.84%. The covered call on EVR 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 EVR specifically: EVR IV at 37.80% is mid-range versus its 1-year history, so the credit collected on a EVR covered call sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 10.84% (roughly $36.31 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 EVR expiries trade a higher absolute premium for lower per-day decay. Position sizing on EVR should anchor to the underlying notional of $335.03 per share and to the trader's directional view on EVR stock.
EVR covered call setup
The EVR 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 EVR near $335.03, the first option leg uses a $350.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EVR 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 EVR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $335.03 | long |
| Sell 1 | Call | $350.00 | $9.40 |
EVR covered call risk and reward
- Net Premium / Debit
- -$32,563.00
- Max Profit (per contract)
- $2,437.00
- Max Loss (per contract)
- -$32,562.00
- Breakeven(s)
- $325.63
- Risk / Reward Ratio
- 0.075
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.
EVR covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on EVR. 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% | -$32,562.00 |
| $74.09 | -77.9% | -$25,154.41 |
| $148.16 | -55.8% | -$17,746.82 |
| $222.24 | -33.7% | -$10,339.24 |
| $296.31 | -11.6% | -$2,931.65 |
| $370.39 | +10.6% | +$2,437.00 |
| $444.47 | +32.7% | +$2,437.00 |
| $518.54 | +54.8% | +$2,437.00 |
| $592.62 | +76.9% | +$2,437.00 |
| $666.69 | +99.0% | +$2,437.00 |
When traders use covered call on EVR
Covered calls on EVR are an income strategy run on existing EVR stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
EVR thesis for this covered call
The market-implied 1-standard-deviation range for EVR extends from approximately $298.72 on the downside to $371.34 on the upside. A EVR covered call collects premium on an existing long EVR position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether EVR will breach that level within the expiration window. Current EVR IV rank near 39.45% is mid-range against its 1-year distribution, so the IV signal is neutral; the covered call thesis on EVR should anchor more to the directional view and the expected-move geometry. As a Financial Services name, EVR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EVR-specific events.
EVR 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. EVR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EVR alongside the broader basket even when EVR-specific fundamentals are unchanged. Short-premium structures like a covered call on EVR carry tail risk when realized volatility exceeds the implied move; review historical EVR earnings reactions and macro stress periods before sizing. Always rebuild the position from current EVR chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on EVR?
- A covered call on EVR is the covered call strategy applied to EVR (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 EVR stock trading near $335.03, the strikes shown on this page are snapped to the nearest listed EVR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are EVR 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 EVR covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 37.80%), the computed maximum profit is $2,437.00 per contract and the computed maximum loss is -$32,562.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a EVR covered call?
- The breakeven for the EVR covered call priced on this page is roughly $325.63 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 EVR market-implied 1-standard-deviation expected move is approximately 10.84%; 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 EVR?
- Covered calls on EVR are an income strategy run on existing EVR 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 EVR implied volatility affect this covered call?
- EVR ATM IV is at 37.80% with IV rank near 39.45%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.