How are ODD 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 ODD covered call priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 123.94%), the computed maximum profit is $221.00 per contract and the computed maximum loss is -$1,178.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ODD covered call?

The breakeven for the ODD covered call priced on this page is roughly $11.79 at expiration, derived from the August 14, 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 ODD market-implied 1-standard-deviation expected move in the same options snapshot is approximately 35.53%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ODD implied volatility affect this covered call?

ODD ATM IV is at 123.94% with IV rank near 91.80%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

ODD Covered Call Strategy

ODD (Oddity Tech Ltd.), in the Consumer Defensive sector, (Household & Personal Products industry), listed on NASDAQ.

Operating globally, Oddity Tech Ltd. and its affiliated companies function as a consumer technology enterprise. It delivers beauty and wellness merchandise, leveraging its proprietary PowerMatch technology. The firm's strategic focus is on developing and growing digitally native brands, aiming to revolutionize the traditionally brick-and-mortar beauty and wellness sectors. Its product portfolio features items for the face, complexion, eyes, brows, lips, and general skincare, marketed under the IL MAKIAGE label. Additionally, the SpoiledChild brand specializes in hair and skin care solutions. Founded in 2013, this corporation maintains its headquarters in Tel Aviv-Jaffa, Israel.

ODD (Oddity Tech Ltd.) trades in the Consumer Defensive sector, specifically Household & Personal Products, with a market capitalization of approximately $735.3M, a trailing P/E of 14.09, a beta of 2.38 versus the broader market, a 52-week range of 9.25-64.23, average daily share volume of 1.4M, a public-listing history dating back to 2023, approximately 658 full-time employees. These structural characteristics shape how ODD stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.38 indicates ODD 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 ODD?

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.

ODD snapshot

As of August 14, 2026, spot at $13.34, ATM IV 123.94%, IV rank 91.80%, expected move 35.53%. The covered call on ODD below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 28-day expiry.

Why this covered call structure on ODD specifically: ODD IV at 123.94% is rich versus its 1-year range, which favors premium-selling structures like a ODD covered call, with a market-implied 1-standard-deviation move of approximately 35.53% (roughly $4.74 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ODD expiries trade a higher absolute premium for lower per-day decay. Position sizing on ODD should anchor to the underlying notional of $13.34 per share and to the trader's directional view on ODD stock.

ODD covered call setup

The ODD covered call below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ODD at $13.34 on that close, the first option leg uses a $14.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ODD chain at a 28-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 ODD shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$13.34	long
Sell 1	Call	$14.00	$1.55

ODD covered call risk and reward

Net Premium / Debit: -$1,179.00
Max Profit (per contract): $221.00
Max Loss (per contract): -$1,178.00
Breakeven(s): $11.79
Risk / Reward Ratio: 0.188

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.

ODD covered call payoff curve

Modeled P&L at expiration across a range of underlying prices for the covered call on ODD. 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	-99.9%	-$1,178.00
$2.96	-77.8%	-$883.16
$5.91	-55.7%	-$588.31
$8.86	-33.6%	-$293.47
$11.80	-11.5%	+$1.38
$14.75	+10.6%	+$221.00
$17.70	+32.7%	+$221.00
$20.65	+54.8%	+$221.00
$23.60	+76.9%	+$221.00
$26.55	+99.0%	+$221.00

When traders use covered call on ODD

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

ODD thesis for this covered call

The market-implied 1-standard-deviation range for ODD extends from approximately $8.60 on the downside to $18.08 on the upside. A ODD covered call collects premium on an existing long ODD position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether ODD will breach that level within the expiration window. Current ODD IV rank near 91.80% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on ODD at 123.94%. As a Consumer Defensive name, ODD options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ODD-specific events.

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

Frequently asked questions

What is a covered call on ODD?: A covered call on ODD is the covered call strategy applied to ODD (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 ODD stock at $13.34 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ODD chain strike and the premiums come straight from that session's bid/ask midpoint.
How are ODD 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 ODD covered call priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 123.94%), the computed maximum profit is $221.00 per contract and the computed maximum loss is -$1,178.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ODD covered call?: The breakeven for the ODD covered call priced on this page is roughly $11.79 at expiration, derived from the August 14, 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 ODD market-implied 1-standard-deviation expected move in the same options snapshot is approximately 35.53%; 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 ODD?: Covered calls on ODD are an income strategy run on existing ODD 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 ODD implied volatility affect this covered call?: ODD ATM IV is at 123.94% with IV rank near 91.80%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.