01 — TLT · COVERED CALLS

Best TLT covered calls setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

Macro-sensitive duration play with options flow tied to long-end Treasury yields and Fed expectations.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
iShares 20+ Year Treasury Bond ETF
Bond ETF
TLT
$86.08-0.3% / 30d
IV rank (1y)
21.5% · low
P/E (fwd)
-4304.0
Option vol
36K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on annualized return, premium, and probability of profit.

Days to expiration
Probability of profit
Sort by
Top pick
$87 call · Jun 12
34 DAYS · 1.1% OTM · SELL TO OPEN
Credit
$58
Annualized
7.23%
PoP
64%
StrikeExpirationCreditAnnualized PoP
$87
1.1% OTM
Jun 5
27 days
$45
$0.45 / share
7.07%66%
$87.5
1.6% OTM
Jun 12
34 days
$42
$0.42 / share
5.24%72%
$87.5
1.6% OTM
Jun 5
27 days
$31
$0.31 / share
4.87%75%
$110
27.8% OTM
Jun 5
27 days
$0
$0.00 / share
0%70%
$105
22.0% OTM
Jun 12
34 days
$0
$0.00 / share
0%70%
$110
27.8% OTM
Jun 12
34 days
$0
$0.00 / share
0%70%
7 of 7 matchesCustomize filters →

03 — Strategy

Covered Calls, plainly explained

Neutral-to-mildly bullish traders focused on steady premium collection.

P&L at expiration · $87 call · 34 DTE

$0+$58losses$85.50 BREAKEVEN$87 STRIKE

Key numbers

Premium collected+$58
Max profit+$58
Breakeven$85.50
Capped above$87
Probability of profit64%
Days to expiration34

When this trade makes sense

Use when

  • You already own 100+ shares of the stock
  • You'd be fine selling at the strike price
  • You think the stock goes flat or slightly up
  • IV rank is elevated — premiums are rich

Avoid when

  • You think the stock is about to rip higher
  • You're attached to the shares (tax, conviction)
  • Earnings are inside the expiration window
  • Premiums are unusually low — nothing to collect
Read the full covered calls guide →

05 — RUN IT LIVE

See the highest chance of profit on TLT.

Option Agent scans live chains and recommends setups based on current market conditions.

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Option Agent is not a registered investment advisor, broker-dealer, or financial planner. All analysis, recommendations, and data are for informational and educational purposes only and do not constitute personalized investment advice. Options trading involves substantial risk of loss and is not suitable for all investors. Past probability calculations do not guarantee future results. Consult a qualified financial advisor before making investment decisions.