01 — DIA · COVERED CALLS

Best DIA 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.

Price-weighted Dow tracker with options flow concentrated in retail covered-call writers.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
SPDR Dow Jones Industrial Average ETF
Index ETF
DIA
$517.13+1.7% / 30d
IV rank (1y)
20.6% · low
Option vol
10K /day

02 — Live setups

Suggested strikes

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

Days to expiration
Probability of profit
Sort by
Top pick
$527 call · Dec 4
34 DAYS · 1.9% OTM · SELL TO OPEN
Credit
$850
Return
1.64%
PoP
65%
StrikeExpirationCreditReturn ↓PoP
$528
2.1% OTM
Dec 4
34 days
$795
$7.95 / share
1.54%67%
$526
1.7% OTM
Dec 4
34 days
$675
$6.75 / share
1.31%63%
$532.5
3.0% OTM
Dec 4
34 days
$610
$6.10 / share
1.18%75%
$525
1.5% OTM
Dec 4
34 days
$580
$5.80 / share
1.12%61%
$530
2.5% OTM
Dec 4
34 days
$497
$4.97 / share
0.96%70%
$524
1.3% OTM
Nov 27
27 days
$493
$4.93 / share
0.95%61%
$526
1.7% OTM
Nov 27
27 days
$482
$4.82 / share
0.93%66%
$527.5
2.0% OTM
Dec 4
34 days
$470
$4.70 / share
0.91%66%
$525
1.5% OTM
Nov 27
27 days
$450
$4.50 / share
0.87%64%
10 of 17 matchesCustomize filters →

03 — Strategy

Covered Calls, plainly explained

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

P&L at expiration · $527 call · 34 DTE

$0+$850losses$508.63 BREAKEVEN$527 STRIKE

Key numbers

Premium collected+$850
Max profit+$850
Breakeven$508.63
Capped above$527
Probability of profit65%
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 DIA.

Alpha Hawk scans live chains and recommends setups based on current market conditions.

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