How are YOU 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 YOU covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 52.60%), the computed maximum profit is $665.00 per contract and the computed maximum loss is -$5,314.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a YOU covered call?

The breakeven for the YOU covered call priced on this page is roughly $53.15 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 YOU market-implied 1-standard-deviation expected move is approximately 15.08%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current YOU implied volatility affect this covered call?

YOU ATM IV is at 52.60% with IV rank near 35.59%, 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.

YOU Covered Call Strategy

YOU (Clear Secure, Inc.), in the Technology sector, (Software - Application industry), listed on NYSE.

Clear Secure, Inc. provides a member-centric secure identity platform in the United States. The company's secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking. It also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR app, a consumer-facing digital product that facilitates new user enrollment and member engagement from their mobile device. In addition, the company provides Reserve powered by CLEAR, a virtual queuing technology that provides users with the choice of how they queue either at home or on the move; and Atlas Certified, an automated solution to verify professional licenses and certification data across industries by communicating with certifying organizations for on-demand, current, and trusted data. The company was founded in 2010 and is headquartered in New York, New York.

YOU (Clear Secure, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $5.59B, a trailing P/E of 32.63, a beta of 1.07 versus the broader market, a 52-week range of 23.88-61.68, average daily share volume of 1.9M, a public-listing history dating back to 2021, approximately 4K full-time employees. These structural characteristics shape how YOU stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.07 places YOU roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. YOU pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a covered call on YOU?

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 YOU snapshot

As of May 15, 2026, spot at $58.60, ATM IV 52.60%, IV rank 35.59%, expected move 15.08%. The covered call on YOU 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 YOU specifically: YOU IV at 52.60% is mid-range versus its 1-year history, so the credit collected on a YOU covered call sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 15.08% (roughly $8.84 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 YOU expiries trade a higher absolute premium for lower per-day decay. Position sizing on YOU should anchor to the underlying notional of $58.60 per share and to the trader's directional view on YOU stock.

YOU covered call setup

The YOU 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 YOU near $58.60, the first option leg uses a $59.80 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed YOU 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 YOU shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$58.60	long
Sell 1	Call	$59.80	$5.45

YOU covered call risk and reward

Net Premium / Debit: -$5,315.00
Max Profit (per contract): $665.00
Max Loss (per contract): -$5,314.00
Breakeven(s): $53.15
Risk / Reward Ratio: 0.125

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.

YOU covered call payoff curve

Modeled P&L at expiration across a range of underlying prices for the covered call on YOU. 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%	-$5,314.00
$12.97	-77.9%	-$4,018.43
$25.92	-55.8%	-$2,722.86
$38.88	-33.7%	-$1,427.30
$51.83	-11.5%	-$131.73
$64.79	+10.6%	+$665.00
$77.74	+32.7%	+$665.00
$90.70	+54.8%	+$665.00
$103.66	+76.9%	+$665.00
$116.61	+99.0%	+$665.00

When traders use covered call on YOU

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

YOU thesis for this covered call

The market-implied 1-standard-deviation range for YOU extends from approximately $49.76 on the downside to $67.44 on the upside. A YOU covered call collects premium on an existing long YOU position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether YOU will breach that level within the expiration window. Current YOU IV rank near 35.59% is mid-range against its 1-year distribution, so the IV signal is neutral; the covered call thesis on YOU should anchor more to the directional view and the expected-move geometry. As a Technology name, YOU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to YOU-specific events.

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

Frequently asked questions

What is a covered call on YOU?: A covered call on YOU is the covered call strategy applied to YOU (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 YOU stock trading near $58.60, the strikes shown on this page are snapped to the nearest listed YOU chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are YOU 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 YOU covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 52.60%), the computed maximum profit is $665.00 per contract and the computed maximum loss is -$5,314.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a YOU covered call?: The breakeven for the YOU covered call priced on this page is roughly $53.15 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 YOU market-implied 1-standard-deviation expected move is approximately 15.08%; 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 YOU?: Covered calls on YOU are an income strategy run on existing YOU 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 YOU implied volatility affect this covered call?: YOU ATM IV is at 52.60% with IV rank near 35.59%, 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.