MYRG Covered Call Strategy
MYRG (MYR Group Inc.), in the Industrials sector, (Engineering & Construction industry), listed on NASDAQ.
MYR Group Inc., through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transmission and Distribution, and Commercial and Industrial. The Transmission and Distribution segment offers a range of services on electric transmission and distribution networks, and substation facilities, including design, engineering, procurement, construction, upgrade, maintenance, and repair services with primary focus on construction, maintenance, and repair to customers in the electric utility industry; and services, including construction and maintenance of high voltage transmission lines, substations, and lower voltage underground and overhead distribution systems, renewable power facilities, and limited gas construction services, as well as emergency restoration services in response to hurricane, ice, or other storm related damages. This segment serves as a prime contractor to customers, such as investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners, and other contractors. The Commercial and Industrial segment provides a range of services, including design, installation, maintenance, and repair of commercial and industrial wiring; and installation of traffic networks, bridge, roadway, and tunnel lighting for airports, hospitals, data centers, hotels, stadiums, convention centers, renewable energy projects, manufacturing plants, processing facilities, waste-water treatment facilities, mining facilities, and transportation control and management systems. This segment serves general contractors, commercial and industrial facility owners, governmental agencies, and developers.
MYRG (MYR Group Inc.) trades in the Industrials sector, specifically Engineering & Construction, with a market capitalization of approximately $7.29B, a trailing P/E of 51.24, a beta of 1.30 versus the broader market, a 52-week range of 154.55-475.4, average daily share volume of 305K, a public-listing history dating back to 2008, approximately 9K full-time employees. These structural characteristics shape how MYRG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.30 places MYRG roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 51.24 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a covered call on MYRG?
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 MYRG snapshot
As of May 15, 2026, spot at $466.56, ATM IV 52.50%, IV rank 54.49%, expected move 15.05%. The covered call on MYRG 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 MYRG specifically: MYRG IV at 52.50% is mid-range versus its 1-year history, so the credit collected on a MYRG covered call sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 15.05% (roughly $70.22 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 MYRG expiries trade a higher absolute premium for lower per-day decay. Position sizing on MYRG should anchor to the underlying notional of $466.56 per share and to the trader's directional view on MYRG stock.
MYRG covered call setup
The MYRG 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 MYRG near $466.56, the first option leg uses a $490.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MYRG 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 MYRG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $466.56 | long |
| Sell 1 | Call | $490.00 | $21.00 |
MYRG covered call risk and reward
- Net Premium / Debit
- -$44,556.00
- Max Profit (per contract)
- $4,444.00
- Max Loss (per contract)
- -$44,555.00
- Breakeven(s)
- $445.56
- Risk / Reward Ratio
- 0.100
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.
MYRG covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on MYRG. 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% | -$44,555.00 |
| $103.17 | -77.9% | -$34,239.21 |
| $206.33 | -55.8% | -$23,923.42 |
| $309.48 | -33.7% | -$13,607.63 |
| $412.64 | -11.6% | -$3,291.84 |
| $515.80 | +10.6% | +$4,444.00 |
| $618.96 | +32.7% | +$4,444.00 |
| $722.12 | +54.8% | +$4,444.00 |
| $825.27 | +76.9% | +$4,444.00 |
| $928.43 | +99.0% | +$4,444.00 |
When traders use covered call on MYRG
Covered calls on MYRG are an income strategy run on existing MYRG stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
MYRG thesis for this covered call
The market-implied 1-standard-deviation range for MYRG extends from approximately $396.34 on the downside to $536.78 on the upside. A MYRG covered call collects premium on an existing long MYRG position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether MYRG will breach that level within the expiration window. Current MYRG IV rank near 54.49% is mid-range against its 1-year distribution, so the IV signal is neutral; the covered call thesis on MYRG should anchor more to the directional view and the expected-move geometry. As a Industrials name, MYRG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MYRG-specific events.
MYRG 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. MYRG positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MYRG alongside the broader basket even when MYRG-specific fundamentals are unchanged. Short-premium structures like a covered call on MYRG carry tail risk when realized volatility exceeds the implied move; review historical MYRG earnings reactions and macro stress periods before sizing. Always rebuild the position from current MYRG chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on MYRG?
- A covered call on MYRG is the covered call strategy applied to MYRG (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 MYRG stock trading near $466.56, the strikes shown on this page are snapped to the nearest listed MYRG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are MYRG 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 MYRG covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 52.50%), the computed maximum profit is $4,444.00 per contract and the computed maximum loss is -$44,555.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a MYRG covered call?
- The breakeven for the MYRG covered call priced on this page is roughly $445.56 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 MYRG market-implied 1-standard-deviation expected move is approximately 15.05%; 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 MYRG?
- Covered calls on MYRG are an income strategy run on existing MYRG 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 MYRG implied volatility affect this covered call?
- MYRG ATM IV is at 52.50% with IV rank near 54.49%, 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.