01 — XLE · COVERED CALLS

Best XLE 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.

Energy-sector ETF heavy in supermajors, with options flow tied to crude prices and OPEC headlines.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD

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
$57 call · Jun 12
35 DAYS · 1.9% OTM · SELL TO OPEN
Credit
$147
Annualized
27.4%
PoP
62%
StrikeExpirationCreditAnnualized PoP
$57
1.9% OTM
May 29
21 days
$86
$0.86 / share
26.72%62%
$57
1.9% OTM
Jun 5
28 days
$113
$1.13 / share
26.33%62%
$57.5
2.8% OTM
May 29
21 days
$70
$0.70 / share
21.75%66%
$57.5
2.8% OTM
Jun 5
28 days
$93
$0.93 / share
21.67%63%
$58
3.7% OTM
Jun 5
28 days
$78
$0.78 / share
18.17%73%
$58.5
4.6% OTM
Jun 5
28 days
$78
$0.78 / share
18.17%72%
$58
3.7% OTM
Jun 12
35 days
$93
$0.93 / share
17.33%73%
$58.5
4.6% OTM
Jun 12
35 days
$79
$0.79 / share
14.72%70%
$58.5
4.6% OTM
May 29
21 days
$46
$0.46 / share
14.29%68%
10 of 21 matchesCustomize filters →

03 — Strategy

Covered Calls, plainly explained

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

P&L at expiration · $57 call · 35 DTE

$0+$147losses$54.48 BREAKEVEN$57 STRIKE

Key numbers

Premium collected+$147
Max profit+$147
Breakeven$54.48
Capped above$57
Probability of profit62%
Days to expiration35

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 XLE.

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.