GOSS Covered Call Strategy
GOSS (Gossamer Bio, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Gossamer Bio, Inc., a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology in the United States. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colonystimulating factor 1 receptor, or CSF1R, and c-KIT inhibitor for the treatment of pulmonary arterial hypertension; GB004, a gut-targeted, oral small molecule for the treatment of inflammatory bowel disease; GB5121, an oral, irreversible, covalent, small molecule inhibitor of Bruton's Tyrosine Kinase for the treatment of primary central nervous system lymphoma; and GB7208, an oral, small molecule, BTK inhibitor for the treatment of multiple sclerosis. It has license agreements with Pulmokine, Inc. to develop and commercialize GB002 and related backup compounds; and Aerpio Pharmaceuticals, Inc. to develop and commercialize GB004 and related compounds. The company was formerly known as FSG, Bio, Inc. and changed its name to Gossamer Bio, Inc. in 2017. Gossamer Bio, Inc. was incorporated in 2015 and is headquartered in San Diego, California.
GOSS (Gossamer Bio, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $80.6M, a beta of 2.15 versus the broader market, a 52-week range of 0.314-3.87, average daily share volume of 16.3M, a public-listing history dating back to 2019, approximately 144 full-time employees. These structural characteristics shape how GOSS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.15 indicates GOSS 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 GOSS?
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 GOSS snapshot
As of May 15, 2026, spot at $0.33, ATM IV 24.70%, IV rank 2.99%, expected move 7.08%. The covered call on GOSS 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 GOSS specifically: GOSS IV at 24.70% is on the cheap side of its 1-year range, which means a premium-selling GOSS covered call collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 7.08% (roughly $0.02 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 GOSS expiries trade a higher absolute premium for lower per-day decay. Position sizing on GOSS should anchor to the underlying notional of $0.33 per share and to the trader's directional view on GOSS stock.
GOSS covered call setup
The GOSS 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 GOSS near $0.33, the first option leg uses a $0.35 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GOSS 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 GOSS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $0.33 | long |
| Sell 1 | Call | $0.35 | N/A |
GOSS 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.
GOSS covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on GOSS. 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 GOSS
Covered calls on GOSS are an income strategy run on existing GOSS stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
GOSS thesis for this covered call
The market-implied 1-standard-deviation range for GOSS extends from approximately $0.31 on the downside to $0.35 on the upside. A GOSS covered call collects premium on an existing long GOSS position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether GOSS will breach that level within the expiration window. Current GOSS IV rank near 2.99% 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 GOSS at 24.70%. As a Healthcare name, GOSS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GOSS-specific events.
GOSS 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. GOSS positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GOSS alongside the broader basket even when GOSS-specific fundamentals are unchanged. Short-premium structures like a covered call on GOSS carry tail risk when realized volatility exceeds the implied move; review historical GOSS earnings reactions and macro stress periods before sizing. Always rebuild the position from current GOSS chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on GOSS?
- A covered call on GOSS is the covered call strategy applied to GOSS (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 GOSS stock trading near $0.33, the strikes shown on this page are snapped to the nearest listed GOSS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are GOSS 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 GOSS covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 24.70%), 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 GOSS covered call?
- The breakeven for the GOSS 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 GOSS market-implied 1-standard-deviation expected move is approximately 7.08%; 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 GOSS?
- Covered calls on GOSS are an income strategy run on existing GOSS 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 GOSS implied volatility affect this covered call?
- GOSS ATM IV is at 24.70% with IV rank near 2.99%, 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.