XMTR Covered Call Strategy
XMTR (Xometry, Inc.), in the Industrials sector, (Industrial - Machinery industry), listed on NASDAQ.
Xometry, Inc. manages a global digital marketplace designed to streamline the sourcing of custom manufactured components and assemblies. The company's extensive service portfolio encompasses both traditional and cutting-edge manufacturing processes. These include precision CNC machining, covering milling and turning operations; various sheet metal fabrication techniques such as laser, waterjet, and plasma cutting, in addition to sheet metal forming. Their advanced 3D printing capabilities span a wide array of additive manufacturing methods, including carbon digital light synthesis, fused deposition modeling, HP Multi Jet Fusion, PolyJet, selective laser sintering, stereolithography, and specialized metal 3D printing services like direct metal laser sintering and metal binder jetting. Furthermore, Xometry offers comprehensive injection molding solutions, including plastic, over, insert, and prototype molding, alongside tooling for both bridge production and high-volume manufacturing. Beyond these core services, the company provides urethane and die casting, vapor smoothing, finishing, rapid prototyping, high-volume production, and assembly services.
XMTR (Xometry, Inc.) trades in the Industrials sector, specifically Industrial - Machinery, with a market capitalization of approximately $5.07B, a beta of 1.27 versus the broader market, a 52-week range of 30.63-99.86, average daily share volume of 866K, a public-listing history dating back to 2021, approximately 1K full-time employees. These structural characteristics shape how XMTR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.27 places XMTR 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 XMTR?
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 XMTR snapshot
As of June 30, 2026, spot at $98.02, ATM IV 63.10%, IV rank 13.06%, expected move 18.09%. The covered call on XMTR 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 17-day expiry.
Why this covered call structure on XMTR specifically: XMTR IV at 63.10% is on the cheap side of its 1-year range, which means a premium-selling XMTR covered call collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 18.09% (roughly $17.73 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated XMTR expiries trade a higher absolute premium for lower per-day decay. Position sizing on XMTR should anchor to the underlying notional of $98.02 per share and to the trader's directional view on XMTR stock.
XMTR covered call setup
The XMTR 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 XMTR near $98.02, the first option leg uses a $105.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed XMTR chain at a 17-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 XMTR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $98.02 | long |
| Sell 1 | Call | $105.00 | $2.73 |
XMTR covered call risk and reward
- Net Premium / Debit
- -$9,529.50
- Max Profit (per contract)
- $970.50
- Max Loss (per contract)
- -$9,528.50
- Breakeven(s)
- $95.30
- 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.
XMTR covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on XMTR. 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% | -$9,528.50 |
| $21.68 | -77.9% | -$7,361.33 |
| $43.35 | -55.8% | -$5,194.17 |
| $65.02 | -33.7% | -$3,027.00 |
| $86.70 | -11.6% | -$859.84 |
| $108.37 | +10.6% | +$970.50 |
| $130.04 | +32.7% | +$970.50 |
| $151.71 | +54.8% | +$970.50 |
| $173.38 | +76.9% | +$970.50 |
| $195.05 | +99.0% | +$970.50 |
When traders use covered call on XMTR
Covered calls on XMTR are an income strategy run on existing XMTR stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
XMTR thesis for this covered call
The market-implied 1-standard-deviation range for XMTR extends from approximately $80.29 on the downside to $115.75 on the upside. A XMTR covered call collects premium on an existing long XMTR position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether XMTR will breach that level within the expiration window. Current XMTR IV rank near 13.06% 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 XMTR at 63.10%. As a Industrials name, XMTR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to XMTR-specific events.
XMTR 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. XMTR positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move XMTR alongside the broader basket even when XMTR-specific fundamentals are unchanged. Short-premium structures like a covered call on XMTR carry tail risk when realized volatility exceeds the implied move; review historical XMTR earnings reactions and macro stress periods before sizing. Always rebuild the position from current XMTR chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on XMTR?
- A covered call on XMTR is the covered call strategy applied to XMTR (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 XMTR stock trading near $98.02, the strikes shown on this page are snapped to the nearest listed XMTR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are XMTR 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 XMTR covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 63.10%), the computed maximum profit is $970.50 per contract and the computed maximum loss is -$9,528.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a XMTR covered call?
- The breakeven for the XMTR covered call priced on this page is roughly $95.30 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 XMTR market-implied 1-standard-deviation expected move is approximately 18.09%; 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 XMTR?
- Covered calls on XMTR are an income strategy run on existing XMTR 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 XMTR implied volatility affect this covered call?
- XMTR ATM IV is at 63.10% with IV rank near 13.06%, 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.