You pick a covered call in this order: the expiration, the strike as a delta, and whether you would be content to sell the shares at that strike. If the answer to the third is no, the first two do not matter — pick a further strike, or do not sell the call.
Selling a call against 100 shares you already own obliges you to sell them at the strike if the buyer exercises, and pays you a premium for that obligation.
On 300 shares you can sell three contracts. A $1.20 premium on three contracts is $360 collected at the outset, before commission.
The expiration sets how long the obligation runs. Thirty to forty-five days is the window most sellers work in.
The strike is usually chosen as a delta: a 0.20 delta call is roughly a one-in-five chance of the shares being called away, on the market's own estimate.
A nearer strike pays more premium and gives away more of the upside. A further strike pays less and leaves more room.
The premium is certain. The upside above the strike is not yours any more.
That is the whole trade-off, and it is worth writing down in dollars before the order goes in, because it is the part people re-learn after a stock runs.
Your cost basis. A strike below it turns a called-away position into a realised loss on the shares, whatever the premium did.
An earnings date inside the expiration. The premium is richer because the event is coming, and the stock can gap through the strike on the print.
Track the shares in a Remora portfolio and the covered-call screen runs against the positions you actually hold, with the share count and the basis already in place.
The Options Screener is the same screen for any ticker, whether you hold it or not.
From an AI client that is get_positions to read the holdings, screen_cc to screen calls against them, and get_earnings to check the date.
Wheel Co-Pilot shows the stage each position is at and the effective basis after every dollar of premium collected.
It can run the screen and read your own positions back to you. "I own 400 shares of AAPL. What covered call could I sell against them?" is a prompt that works on the first day.
The choice of strike is still yours, and Connect your AI has the setup steps for each client.
Remora is analysis software, not a broker and not an adviser. It cannot place a trade, and nothing on it is investment advice.