OSUR Covered Call Strategy
OSUR (OraSure Technologies, Inc.), in the Healthcare sector, (Medical - Instruments & Supplies industry), listed on NASDAQ.
OraSure Technologies, Inc. and its affiliates are a global leader in the development, production, and commercialization of advanced oral fluid diagnostic solutions and specialized specimen collection tools, serving markets across the United States, Europe, and other international regions. The company operates through two primary divisions: Diagnostics and Molecular Solutions. Its diverse Diagnostics portfolio features a range of crucial offerings, such as the InteliSwab rapid tests for COVID-19 (including professional and prescription versions). It also provides several OraQuick rapid tests, encompassing solutions for HIV (Rapid, In-Home, and Self-Test versions), Hepatitis C (HCV rapid antibody), and Ebola (rapid antigen). Further diagnostic tools include the OraSure oral fluid collection device, utilized for HIV-1 antibody screening and confirmation; the Intercept drug testing systems; various immunoassay tests and reagents; and the Q.E.D. saliva alcohol test. Within its Molecular Solutions segment, OraSure offers an array of genomic products, notably under the Oragene and ORAcollect brand names, alongside specialized microbiome collection solutions and comprehensive GenoFIND genomics laboratory services.
OSUR (OraSure Technologies, Inc.) trades in the Healthcare sector, specifically Medical - Instruments & Supplies, with a market capitalization of approximately $258.2M, a beta of 1.01 versus the broader market, a 52-week range of 2.08-4.58, average daily share volume of 564K, a public-listing history dating back to 1986, approximately 500 full-time employees. These structural characteristics shape how OSUR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.01 places OSUR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. OSUR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a covered call on OSUR?
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.
OSUR snapshot
As of August 14, 2026, spot at $3.85, ATM IV 119.80%, IV rank 32.68%, expected move 34.35%. The covered call on OSUR 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 OSUR specifically: OSUR IV at 119.80% is mid-range versus its 1-year history, so the credit collected on a OSUR covered call sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 34.35% (roughly $1.32 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 OSUR expiries trade a higher absolute premium for lower per-day decay. Position sizing on OSUR should anchor to the underlying notional of $3.85 per share and to the trader's directional view on OSUR stock.
OSUR covered call setup
The OSUR 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 OSUR at $3.85 on that close, the first option leg uses a $4.04 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed OSUR 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 OSUR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $3.85 | long |
| Sell 1 | Call | $4.04 | N/A |
OSUR 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.
OSUR covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on OSUR. 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 OSUR
Covered calls on OSUR are an income strategy run on existing OSUR stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
OSUR thesis for this covered call
The market-implied 1-standard-deviation range for OSUR extends from approximately $2.53 on the downside to $5.17 on the upside. A OSUR covered call collects premium on an existing long OSUR position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether OSUR will breach that level within the expiration window. Current OSUR IV rank near 32.68% is mid-range against its 1-year distribution, so the IV signal is neutral; the covered call thesis on OSUR should anchor more to the directional view and the expected-move geometry. As a Healthcare name, OSUR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to OSUR-specific events.
OSUR 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. OSUR positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move OSUR alongside the broader basket even when OSUR-specific fundamentals are unchanged. Short-premium structures like a covered call on OSUR carry tail risk when realized volatility exceeds the implied move; review historical OSUR earnings reactions and macro stress periods before sizing. Always rebuild the position from current OSUR chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on OSUR?
- A covered call on OSUR is the covered call strategy applied to OSUR (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 OSUR stock at $3.85 on the most recent close, the strikes shown on this page are snapped to the nearest listed OSUR chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are OSUR 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 OSUR covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 119.80%), 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 OSUR covered call?
- The breakeven for the OSUR 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 OSUR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 34.35%; 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 OSUR?
- Covered calls on OSUR are an income strategy run on existing OSUR 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 OSUR implied volatility affect this covered call?
- OSUR ATM IV is at 119.80% with IV rank near 32.68%, 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.