How are OSCR 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 OSCR covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 66.30%), the computed maximum profit is $222.50 per contract and the computed maximum loss is -$2,176.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a OSCR covered call?

The breakeven for the OSCR covered call priced on this page is roughly $21.78 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 OSCR market-implied 1-standard-deviation expected move is approximately 19.01%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current OSCR implied volatility affect this covered call?

OSCR ATM IV is at 66.30% with IV rank near 16.40%, 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.

OSCR Covered Call Strategy

OSCR (Oscar Health, Inc.), in the Healthcare sector, (Medical - Healthcare Plans industry), listed on NYSE.

Oscar Health, Inc. provides health insurance products and services in the United States. The company offers Individual & Family, Small Group, and Medicare Advantage plans, as well as +Oscar, a technology driven platform designed to help providers and payor clients to engage with members and patients. It also provides reinsurance products. The company was formerly known as Mulberry Health Inc. and changed its name to Oscar Health, Inc. in January 2021. Oscar Health, Inc. was incorporated in 2012 and is headquartered in New York, New York.

OSCR (Oscar Health, Inc.) trades in the Healthcare sector, specifically Medical - Healthcare Plans, with a market capitalization of approximately $6.12B, a beta of 2.34 versus the broader market, a 52-week range of 10.69-24.28, average daily share volume of 7.0M, a public-listing history dating back to 2021, approximately 2K full-time employees. These structural characteristics shape how OSCR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.34 indicates OSCR 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 OSCR?

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 OSCR snapshot

As of May 15, 2026, spot at $23.05, ATM IV 66.30%, IV rank 16.40%, expected move 19.01%. The covered call on OSCR 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 28-day expiry.

Why this covered call structure on OSCR specifically: OSCR IV at 66.30% is on the cheap side of its 1-year range, which means a premium-selling OSCR covered call collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 19.01% (roughly $4.38 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 OSCR expiries trade a higher absolute premium for lower per-day decay. Position sizing on OSCR should anchor to the underlying notional of $23.05 per share and to the trader's directional view on OSCR stock.

OSCR covered call setup

The OSCR 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 OSCR near $23.05, the first option leg uses a $24.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed OSCR 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 OSCR shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$23.05	long
Sell 1	Call	$24.00	$1.28

OSCR covered call risk and reward

Net Premium / Debit: -$2,177.50
Max Profit (per contract): $222.50
Max Loss (per contract): -$2,176.50
Breakeven(s): $21.78
Risk / Reward Ratio: 0.102

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.

OSCR covered call payoff curve

Modeled P&L at expiration across a range of underlying prices for the covered call on OSCR. 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%	-$2,176.50
$5.11	-77.9%	-$1,666.96
$10.20	-55.7%	-$1,157.42
$15.30	-33.6%	-$647.89
$20.39	-11.5%	-$138.35
$25.49	+10.6%	+$222.50
$30.58	+32.7%	+$222.50
$35.68	+54.8%	+$222.50
$40.77	+76.9%	+$222.50
$45.87	+99.0%	+$222.50

When traders use covered call on OSCR

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

OSCR thesis for this covered call

The market-implied 1-standard-deviation range for OSCR extends from approximately $18.67 on the downside to $27.43 on the upside. A OSCR covered call collects premium on an existing long OSCR position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether OSCR will breach that level within the expiration window. Current OSCR IV rank near 16.40% 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 OSCR at 66.30%. As a Healthcare name, OSCR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to OSCR-specific events.

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

Frequently asked questions

What is a covered call on OSCR?: A covered call on OSCR is the covered call strategy applied to OSCR (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 OSCR stock trading near $23.05, the strikes shown on this page are snapped to the nearest listed OSCR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are OSCR 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 OSCR covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 66.30%), the computed maximum profit is $222.50 per contract and the computed maximum loss is -$2,176.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a OSCR covered call?: The breakeven for the OSCR covered call priced on this page is roughly $21.78 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 OSCR market-implied 1-standard-deviation expected move is approximately 19.01%; 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 OSCR?: Covered calls on OSCR are an income strategy run on existing OSCR 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 OSCR implied volatility affect this covered call?: OSCR ATM IV is at 66.30% with IV rank near 16.40%, 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.