INGM Covered Call Strategy
INGM (Ingram Micro Holding Corporation), in the Technology sector, (Information Technology Services industry), listed on NYSE.
Ingram Micro Holding Corporation, operating globally through its various subsidiaries, delivers a broad spectrum of technology services and solutions. Its client base spans vendors, resellers, and retailers across regions such as North America, Europe, the Middle East, Africa, Asia-Pacific, and Latin America. The company offers a comprehensive Ingram Micro Cloud Marketplace portfolio, featuring a wide array of third-party cloud-based services and subscription products accessible via its Ingram Micro Xvantage platform. Beyond these, it also furnishes crucial support services like training, IT asset disposition (ITAD), reverse logistics, repair, and various financial solutions. For both corporate and individual consumers, Ingram Micro supplies a range of client and endpoint technologies. These encompass devices such as desktop PCs, laptops, and tablets, alongside printers, various application software, and a selection of peripherals and accessories.
INGM (Ingram Micro Holding Corporation) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $6.38B, a trailing P/E of 17.98, a beta of 1.79 versus the broader market, a 52-week range of 18.09-31.69, average daily share volume of 1.6M, a public-listing history dating back to 2024, approximately 24K full-time employees. These structural characteristics shape how INGM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.79 indicates INGM has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. INGM pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a covered call on INGM?
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 INGM snapshot
As of June 30, 2026, spot at $27.30, ATM IV 72.50%, IV rank 21.93%, expected move 20.79%. The covered call on INGM 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 17-day expiry.
Why this covered call structure on INGM specifically: INGM IV at 72.50% is on the cheap side of its 1-year range, which means a premium-selling INGM covered call collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 20.79% (roughly $5.67 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated INGM expiries trade a higher absolute premium for lower per-day decay. Position sizing on INGM should anchor to the underlying notional of $27.30 per share and to the trader's directional view on INGM stock.
INGM covered call setup
The INGM 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 INGM near $27.30, the first option leg uses a $28.67 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed INGM chain at a 17-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 INGM shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $27.30 | long |
| Sell 1 | Call | $28.67 | N/A |
INGM 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.
INGM covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on INGM. 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 INGM
Covered calls on INGM are an income strategy run on existing INGM stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
INGM thesis for this covered call
The market-implied 1-standard-deviation range for INGM extends from approximately $21.63 on the downside to $32.97 on the upside. A INGM covered call collects premium on an existing long INGM position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether INGM will breach that level within the expiration window. Current INGM IV rank near 21.93% 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 INGM at 72.50%. As a Technology name, INGM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to INGM-specific events.
INGM 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. INGM positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move INGM alongside the broader basket even when INGM-specific fundamentals are unchanged. Short-premium structures like a covered call on INGM carry tail risk when realized volatility exceeds the implied move; review historical INGM earnings reactions and macro stress periods before sizing. Always rebuild the position from current INGM chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on INGM?
- A covered call on INGM is the covered call strategy applied to INGM (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 INGM stock trading near $27.30, the strikes shown on this page are snapped to the nearest listed INGM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are INGM 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 INGM covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 72.50%), 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 INGM covered call?
- The breakeven for the INGM 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 INGM market-implied 1-standard-deviation expected move is approximately 20.79%; 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 INGM?
- Covered calls on INGM are an income strategy run on existing INGM 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 INGM implied volatility affect this covered call?
- INGM ATM IV is at 72.50% with IV rank near 21.93%, 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.