Also known as: Uncovered Call · Short Call
Bearish — collect premium. UNLIMITED LOSS unless covered.
Shape illustration on a normalized underlying — open the Lab below to price it on a real option chain.
You collect a premium for taking the obligation to sell 100 shares at the strike if assigned. If the stock stays below the strike, the premium is yours.
Rarely, and only with full understanding: this is the textbook "picking up pennies in front of a steamroller" trade. Professionals use it inside margin frameworks with strict risk controls.
UNLIMITED. A stock can gap far past any strike overnight, and the loss is uncapped. On our platform this structure is flagged for conservative profiles, and one tap converts it into a defined-risk spread by buying a protective wing.
New to options? Start with the free curriculum — or see which strategy fits your outlook.
Educational content — not investment advice. Options involve substantial risk and are not suitable for every investor. All trading on Opus Options Trading is simulated.