How are ICFI 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 ICFI covered call priced from the September 30, 2026 end-of-day chain at a 30-day expiry (ATM IV 308.10%), the computed maximum profit is $1,265.00 per contract and the computed maximum loss is -$7,734.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ICFI covered call?

The breakeven for the ICFI covered call priced on this page is roughly $77.35 at expiration, derived from the September 30, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The ICFI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 88.33%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ICFI implied volatility affect this covered call?

ICFI ATM IV is at 308.10% with IV rank near 62.67%, 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.

ICFI Covered Call Strategy

ICFI (ICF International, Inc.), in the Industrials sector, (Consulting Services industry), listed on NASDAQ.

ICF International, Inc. is a prominent global consultancy offering a wide array of management, marketing, technology, and policy advisory and implementation services to both government and commercial entities worldwide. The firm specializes in in-depth research into pivotal policy, industry, and stakeholder matters, alongside analyzing trends and behaviors, subsequently assessing and quantifying the impact of these initiatives. ICF provides strategic guidance to clients, helping them adeptly navigate an array of societal, market, business, communication, and technological obstacles. Their comprehensive services encompass the development and deployment of policies, programs, and business instruments utilizing both standard and bespoke methodologies. This includes conducting extensive survey research, collecting and analyzing diverse datasets to illuminate key issues, and furnishing clients with actionable business intelligence and streamlined data management solutions for integrated usage. Additionally, ICF focuses on optimizing customer and citizen interactions, modernizing information technology systems, and providing formidable cybersecurity measures to safeguard IT infrastructure against evolving threats.

ICFI (ICF International, Inc.) trades in the Industrials sector, specifically Consulting Services, with a market capitalization of approximately $1.51B, a trailing P/E of 16.91, a beta of 0.53 versus the broader market, a 52-week range of 58.83-98.03, average daily share volume of 233K, a public-listing history dating back to 2006, approximately 8K full-time employees. These structural characteristics shape how ICFI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.53 indicates ICFI has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. ICFI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a covered call on ICFI?

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.

ICFI snapshot

As of September 30, 2026, spot at $83.60, ATM IV 308.10%, IV rank 62.67%, expected move 88.33%. The covered call on ICFI below is built from the September 30, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 170-day expiry.

Why this covered call structure on ICFI specifically: ICFI IV at 308.10% is mid-range versus its 1-year history, so the credit collected on a ICFI covered call sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 88.33% (roughly $73.84 on the underlying). The 170-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ICFI expiries trade a higher absolute premium for lower per-day decay. Position sizing on ICFI should anchor to the underlying notional of $83.60 per share and to the trader's directional view on ICFI stock.

ICFI covered call setup

The ICFI covered call below is built from the September 30, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ICFI at $83.60 on that close, the first option leg uses a $90.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ICFI chain at a 170-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 ICFI shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$83.60	long
Sell 1	Call	$90.00	$6.25

ICFI covered call risk and reward

Net Premium / Debit: -$7,735.00
Max Profit (per contract): $1,265.00
Max Loss (per contract): -$7,734.00
Breakeven(s): $77.35
Risk / Reward Ratio: 0.164

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.

ICFI covered call payoff curve

Modeled P&L at expiration across a range of underlying prices for the covered call on ICFI. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$7,734.00
$18.49	-77.9%	-$5,885.67
$36.98	-55.8%	-$4,037.34
$55.46	-33.7%	-$2,189.01
$73.94	-11.6%	-$340.67
$92.43	+10.6%	+$1,265.00
$110.91	+32.7%	+$1,265.00
$129.39	+54.8%	+$1,265.00
$147.88	+76.9%	+$1,265.00
$166.36	+99.0%	+$1,265.00

When traders use covered call on ICFI

Covered calls on ICFI are an income strategy run on existing ICFI stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.

ICFI thesis for this covered call

The market-implied 1-standard-deviation range for ICFI extends from approximately $9.76 on the downside to $157.44 on the upside. A ICFI covered call collects premium on an existing long ICFI position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether ICFI will breach that level within the expiration window. Current ICFI IV rank near 62.67% is mid-range against its 1-year distribution, so the IV signal is neutral; the covered call thesis on ICFI should anchor more to the directional view and the expected-move geometry. As a Industrials name, ICFI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ICFI-specific events.

ICFI 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. ICFI positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ICFI alongside the broader basket even when ICFI-specific fundamentals are unchanged. Short-premium structures like a covered call on ICFI carry tail risk when realized volatility exceeds the implied move; review historical ICFI earnings reactions and macro stress periods before sizing. Always rebuild the position from current ICFI chain quotes before placing a trade.

Frequently asked questions

What is a covered call on ICFI?: A covered call on ICFI is the covered call strategy applied to ICFI (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 ICFI stock at $83.60 on the September 30, 2026 close, the strikes shown on this page are snapped to the nearest listed ICFI chain strike and the premiums come straight from that session's bid/ask midpoint.
How are ICFI 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 ICFI covered call priced from the September 30, 2026 end-of-day chain at a 30-day expiry (ATM IV 308.10%), the computed maximum profit is $1,265.00 per contract and the computed maximum loss is -$7,734.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ICFI covered call?: The breakeven for the ICFI covered call priced on this page is roughly $77.35 at expiration, derived from the September 30, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The ICFI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 88.33%; 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 ICFI?: Covered calls on ICFI are an income strategy run on existing ICFI 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 ICFI implied volatility affect this covered call?: ICFI ATM IV is at 308.10% with IV rank near 62.67%, 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.