ORCL Short Call — Sep 18, 2026
Trade Setup
Current Stock Price
$267.50
Entry Price
$267.50
Target Price
$133.75
Stop Loss
$535.00
Expiration
Sep 18, 2026
Suggested Contracts
1
Strike Details
Sell 200C
Risk / Reward
Max Loss
$40000.00
Max Profit
$267.50
Analysis
ORCL (Oracle Corporation Common Stock) presents a short call opportunity with elevated implied volatility. IV Rank 64. IV 4640.0% trades -920.0pp above 30-day HV (5560.0%). This setup favors net premium sellers.
Sell the $200 call for $2.67 credit. Naked single-leg exposure; collect premium from time decay if ORCL stays below the strike. Underlying ~$147.02, 39 DTE. Max profit $268 per contract, max loss $40000, 0.7% return on risk, 85% POP. Breakeven at $202.68.
Management: take profit at ~50% of max profit ($134). Cut at 2x credit ($535 loss). If short strike is breached with > 14 DTE, consider rolling out for a credit. Close before expiration week to avoid gamma risk.
Setup Instructions
Underlying: ORCL @ ~$149.59 Expiration: Sep 18, 2026 (39 DTE) Net credit (entry): ~$267.50 per spread Legs:
- Sell ORCL Sep 18, 2026 $200 Call (delta 0.15, mid $2.67)
Use limit orders at the mid or slightly worse. Verify bid-ask spread (currently ~1.9% of mid) before sending.
Management Plan
Take profit at 50% of max profit ($134). Cut loss if position reaches 2x credit received ($535 loss). Roll if tested with > 14 DTE remaining.