How are PCOR 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 PCOR covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 56.70%), the computed maximum profit is $640.50 per contract and the computed maximum loss is -$4,358.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a PCOR covered call?

The breakeven for the PCOR covered call priced on this page is roughly $43.60 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 PCOR market-implied 1-standard-deviation expected move is approximately 16.26%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current PCOR implied volatility affect this covered call?

PCOR ATM IV is at 56.70% with IV rank near 45.38%, 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.

PCOR Covered Call Strategy

PCOR (Procore Technologies, Inc.), in the Technology sector, (Software - Application industry), listed on NYSE.

Procore Technologies, Inc. provides a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office. The company also provides Resource Management that helps contractors to schedule, track, and forecast labor productivity, enhance time management, communication with workforces, and manage profitability on construction projects; and Financial Management, which provides customers with visibility into the financial health of their individual construction projects and portfolios, as well as facilitates untethered access to financial data, linking the field, and the office in real-time. It serves owners, general contractors, and specialty contractors operating in the commercial, residential, industrial, and infrastructure segments of the construction industry. The company primarily sells subscriptions to access its products on computers, smartphones, and tablets through any web browser or from its mobile application available for iOS and Android platforms through its direct sales team.

PCOR (Procore Technologies, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $6.94B, a beta of 0.78 versus the broader market, a 52-week range of 45.54-82.315, average daily share volume of 2.6M, a public-listing history dating back to 2021, approximately 4K full-time employees. These structural characteristics shape how PCOR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.78 places PCOR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a covered call on PCOR?

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 PCOR snapshot

As of May 15, 2026, spot at $46.62, ATM IV 56.70%, IV rank 45.38%, expected move 16.26%. The covered call on PCOR 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 63-day expiry.

Why this covered call structure on PCOR specifically: PCOR IV at 56.70% is mid-range versus its 1-year history, so the credit collected on a PCOR covered call sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 16.26% (roughly $7.58 on the underlying). The 63-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated PCOR expiries trade a higher absolute premium for lower per-day decay. Position sizing on PCOR should anchor to the underlying notional of $46.62 per share and to the trader's directional view on PCOR stock.

PCOR covered call setup

The PCOR 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 PCOR near $46.62, the first option leg uses a $50.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PCOR chain at a 63-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 PCOR shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$46.62	long
Sell 1	Call	$50.00	$3.03

PCOR covered call risk and reward

Net Premium / Debit: -$4,359.50
Max Profit (per contract): $640.50
Max Loss (per contract): -$4,358.50
Breakeven(s): $43.60
Risk / Reward Ratio: 0.147

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.

PCOR covered call payoff curve

Modeled P&L at expiration across a range of underlying prices for the covered call on PCOR. 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%	-$4,358.50
$10.32	-77.9%	-$3,327.82
$20.62	-55.8%	-$2,297.13
$30.93	-33.7%	-$1,266.45
$41.24	-11.5%	-$235.77
$51.54	+10.6%	+$640.50
$61.85	+32.7%	+$640.50
$72.16	+54.8%	+$640.50
$82.46	+76.9%	+$640.50
$92.77	+99.0%	+$640.50

When traders use covered call on PCOR

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

PCOR thesis for this covered call

The market-implied 1-standard-deviation range for PCOR extends from approximately $39.04 on the downside to $54.20 on the upside. A PCOR covered call collects premium on an existing long PCOR position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether PCOR will breach that level within the expiration window. Current PCOR IV rank near 45.38% is mid-range against its 1-year distribution, so the IV signal is neutral; the covered call thesis on PCOR should anchor more to the directional view and the expected-move geometry. As a Technology name, PCOR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PCOR-specific events.

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

Frequently asked questions

What is a covered call on PCOR?: A covered call on PCOR is the covered call strategy applied to PCOR (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 PCOR stock trading near $46.62, the strikes shown on this page are snapped to the nearest listed PCOR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are PCOR 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 PCOR covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 56.70%), the computed maximum profit is $640.50 per contract and the computed maximum loss is -$4,358.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a PCOR covered call?: The breakeven for the PCOR covered call priced on this page is roughly $43.60 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 PCOR market-implied 1-standard-deviation expected move is approximately 16.26%; 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 PCOR?: Covered calls on PCOR are an income strategy run on existing PCOR 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 PCOR implied volatility affect this covered call?: PCOR ATM IV is at 56.70% with IV rank near 45.38%, 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.