How are RGNX 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 RGNX covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 81.70%), the computed maximum profit is $112.50 per contract and the computed maximum loss is -$486.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a RGNX covered call?

The breakeven for the RGNX covered call priced on this page is roughly $4.88 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 RGNX market-implied 1-standard-deviation expected move is approximately 23.42%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current RGNX implied volatility affect this covered call?

RGNX ATM IV is at 81.70% with IV rank near 8.38%, 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.

RGNX Covered Call Strategy

RGNX (REGENXBIO Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

REGENXBIO Inc., a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's lead product candidate is RGX-314, which is in Phase III clinical trial for the treatment of wet age-related macular degeneration. It is also developing RGX-121 that is in Phase I/II clinical trial to treat mucopolysaccharidosis type II;RGX-111, which is in Phase I/II clinical trial for treating mucopolysaccharidosis type I;RGX-181 which is in pre clinic stage for the treatment of late-infantile neuronal ceroid lipofuscinosis type II disease;RGX-202, to treat Duchenne muscular dystrophy which is in phase I/II clinical trial; and RGX-381, to treat the ocular manifestations of CLN2 disease which is in preclinical stage. REGENXBIO Inc. also licenses its NAV Technology Platform to other biotechnology and pharmaceutical companies; and has a collaboration and license agreement with Neurimmune AG to develop novel gene therapies. REGENXBIO Inc. was founded in 2008 and is headquartered in Rockville, Maryland.

RGNX (REGENXBIO Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $518.2M, a beta of 1.12 versus the broader market, a 52-week range of 7.35-16.19, average daily share volume of 812K, a public-listing history dating back to 2015, approximately 353 full-time employees. These structural characteristics shape how RGNX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.12 places RGNX 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 RGNX?

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 RGNX snapshot

As of May 15, 2026, spot at $5.75, ATM IV 81.70%, IV rank 8.38%, expected move 23.42%. The covered call on RGNX 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 RGNX specifically: RGNX IV at 81.70% is on the cheap side of its 1-year range, which means a premium-selling RGNX covered call collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 23.42% (roughly $1.35 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 RGNX expiries trade a higher absolute premium for lower per-day decay. Position sizing on RGNX should anchor to the underlying notional of $5.75 per share and to the trader's directional view on RGNX stock.

RGNX covered call setup

The RGNX 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 RGNX near $5.75, the first option leg uses a $6.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RGNX 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 RGNX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$5.75	long
Sell 1	Call	$6.00	$0.88

RGNX covered call risk and reward

Net Premium / Debit: -$487.50
Max Profit (per contract): $112.50
Max Loss (per contract): -$486.50
Breakeven(s): $4.88
Risk / Reward Ratio: 0.231

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.

RGNX covered call payoff curve

Modeled P&L at expiration across a range of underlying prices for the covered call on RGNX. 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	-99.8%	-$486.50
$1.28	-77.7%	-$359.47
$2.55	-55.6%	-$232.45
$3.82	-33.6%	-$105.42
$5.09	-11.5%	+$21.60
$6.36	+10.6%	+$112.50
$7.63	+32.7%	+$112.50
$8.90	+54.8%	+$112.50
$10.17	+76.9%	+$112.50
$11.44	+99.0%	+$112.50

When traders use covered call on RGNX

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

RGNX thesis for this covered call

The market-implied 1-standard-deviation range for RGNX extends from approximately $4.40 on the downside to $7.10 on the upside. A RGNX covered call collects premium on an existing long RGNX position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether RGNX will breach that level within the expiration window. Current RGNX IV rank near 8.38% 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 RGNX at 81.70%. As a Healthcare name, RGNX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RGNX-specific events.

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

Frequently asked questions

What is a covered call on RGNX?: A covered call on RGNX is the covered call strategy applied to RGNX (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 RGNX stock trading near $5.75, the strikes shown on this page are snapped to the nearest listed RGNX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are RGNX 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 RGNX covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 81.70%), the computed maximum profit is $112.50 per contract and the computed maximum loss is -$486.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a RGNX covered call?: The breakeven for the RGNX covered call priced on this page is roughly $4.88 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 RGNX market-implied 1-standard-deviation expected move is approximately 23.42%; 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 RGNX?: Covered calls on RGNX are an income strategy run on existing RGNX 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 RGNX implied volatility affect this covered call?: RGNX ATM IV is at 81.70% with IV rank near 8.38%, 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.