OKUR Covered Call Strategy
OKUR (OnKure Therapeutics, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
OnKure, Inc., established in 2011 and based in Boulder, Colorado, operates as a biopharmaceutical company primarily engaged in the creation and advancement of precise therapeutic agents for cancer. A core area of their research centers on developing highly selective inhibitors for histone deacetylases. Their current pipeline features OKI-179, an inhibitor specifically engineered to combat a wide spectrum of malignancies, including both blood-related cancers and solid tumor formations.
OKUR (OnKure Therapeutics, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $159.2M, a beta of 0.30 versus the broader market, a 52-week range of 2.185-5.38, average daily share volume of 261K, a public-listing history dating back to 2021, approximately 45 full-time employees. These structural characteristics shape how OKUR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.30 indicates OKUR has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a covered call on OKUR?
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.
OKUR snapshot
As of August 14, 2026, spot at $3.97, ATM IV 23.80%, expected move 6.82%. The covered call on OKUR below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this covered call structure on OKUR specifically: IV rank is unavailable in the current snapshot, so regime-based timing for OKUR is inferred from ATM IV at 23.80% alone, with a market-implied 1-standard-deviation move of approximately 6.82% (roughly $0.27 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated OKUR expiries trade a higher absolute premium for lower per-day decay. Position sizing on OKUR should anchor to the underlying notional of $3.97 per share and to the trader's directional view on OKUR stock.
OKUR covered call setup
The OKUR 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 OKUR at $3.97 on that close, the first option leg uses a $4.17 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed OKUR chain at a 35-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 OKUR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $3.97 | long |
| Sell 1 | Call | $4.17 | N/A |
OKUR 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.
OKUR covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on OKUR. 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 OKUR
Covered calls on OKUR are an income strategy run on existing OKUR stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
OKUR thesis for this covered call
The market-implied 1-standard-deviation range for OKUR extends from approximately $3.70 on the downside to $4.24 on the upside. A OKUR covered call collects premium on an existing long OKUR position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether OKUR will breach that level within the expiration window. As a Healthcare name, OKUR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to OKUR-specific events.
OKUR 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. OKUR positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move OKUR alongside the broader basket even when OKUR-specific fundamentals are unchanged. Short-premium structures like a covered call on OKUR carry tail risk when realized volatility exceeds the implied move; review historical OKUR earnings reactions and macro stress periods before sizing. Always rebuild the position from current OKUR chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on OKUR?
- A covered call on OKUR is the covered call strategy applied to OKUR (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 OKUR stock at $3.97 on the most recent close, the strikes shown on this page are snapped to the nearest listed OKUR chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are OKUR 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 OKUR covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 23.80%), 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 OKUR covered call?
- The breakeven for the OKUR covered call priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 OKUR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 6.82%; 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 OKUR?
- Covered calls on OKUR are an income strategy run on existing OKUR 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 OKUR implied volatility affect this covered call?
- Current OKUR ATM IV is 23.80%; IV rank context is unavailable in the current snapshot.