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Best strikes for DE covered calls — top pick $660 with 10.7% annualized return.
Deere & Company — Top covered call setups ranked by yield and downside protection
Deere & Company (DE) is a Industrials stock with actively traded listed options. Among current candidates, the strongest income setup sits at the $660 strike with 38 days to expiration. IV Rank 89% is 11pp above the Industrials sector median of 78%. Moderate yield — shorter DTE or closer strikes could improve returns per cycle. DE wheel strategy.
Strike Placement
10.7% ann.Ranked #1 of 13 contracts by CC Score — balancing call yield, downside protection, and liquidity.
CC Score = Income (22%) + Safety (18%) + Liquidity (18%) + Quality (14%) + Event (12%) + IV (8%) + Execution (8%)Annualized return, delta, bid-ask spread, open interest, earnings proximity, IV rank, DTE
VolRadar proprietary composite score using ORATS chain data
CC Score optimizes for income generation, not total return. Covered calls cap upside — stocks that rally strongly will underperform a buy-and-hold approach. Past CC returns do not predict future yields.
Every covered call strike sorted by CC Score. Higher score = better risk-adjusted income potential.
★ = Highest risk-adjusted CC Score across all expirations and strikes.
| Strike | Premium | Ann. Yield* | Score |
|---|---|---|---|
| $620⚠️ Spans earnings | $8.95 | 50.5% | 53 |
| $600⚠️ Spans earnings | $15.60 |
Yield is only half the decision. Compare expirations by premium, upside cap, gamma risk, and assignment risk before choosing a contract.
⚠ The highest-yield DTE is not always the best choice for DE
Short expirations can look better on yield while carrying more gamma, spread, and event risk.
Quantitative screening, not investment advice. Verify with your broker. Disclaimer
Deere & Company's best covered call currently offers 10.7% annualized at the $660 strike. Premiums are relatively thin in the current IV environment. Shareholders may consider shorter DTE expirations to accelerate theta decay or wait for IV expansion before initiating new covered call positions.
Deere & Company's IV Rank sits at 89%, placing implied volatility above its 12-month norm. For covered call sellers, this means richer premiums per contract — the same strike and DTE commands more income when IV is expanded. This is one of the most favorable conditions for initiating or rolling covered calls.
Deere & Company has earnings in 9 days. Selling covered calls into earnings carries IV crush risk — premiums are inflated by the event but collapse after the announcement. Consider expirations that expire before the earnings date, or accept that post-earnings IV contraction will reduce the remaining time value.
The top-ranked covered call for Deere & Company is the $660 strike expiring 2026-06-18 (38 DTE), offering 10.7% annualized return with a delta of 0.18. It earns a CC Score of 61 out of 100. Data is updated daily after market close.
For Deere & Company, delta 0.20–0.30 is a common range for covered calls. This gives 70–80% probability of the option expiring worthless while collecting meaningful premium. Lower delta (0.15–0.20) is more conservative, while 0.30–0.40 generates more income but has higher assignment probability.
The CC Score (0–100) ranks covered call opportunities across 7 dimensions: Income potential (22%), Safety (18%), Liquidity (18%), Underlying Quality (14%), Event Safety (12%), IV Opportunity (8%), and Execution Quality (8%). Higher scores mean better risk-adjusted opportunities. Sort by CC Score to find the best strike and expiration combo for Deere & Company.
Free embeddable tool: IV Rank Gauge — add live IV data to any site. No signup, no API key.
This is ★ Top Ranked of 13 contracts across 5 expirations. ↓ Find it below
| 87.9% |
| 48 |
| $610⚠️ Spans earnings | $12.05 | 67.9% | 46 |
| Strike | Premium | Ann. Yield* | Score |
|---|---|---|---|
| $610⚠️ Spans earnings | $13.25 | 45.6% | 44 |
| $600⚠️ Spans earnings | $17.25 | 59.4% | 44 |
| $595⚠️ Spans earnings | $20.30 | 69.9% | 43 |
| Strike | Premium | Ann. Yield* | Score |
|---|---|---|---|
| $595⚠️ Spans earnings | $22.95 | 56.9% | 47 |
| Strike | Premium | Ann. Yield* | Score |
|---|---|---|---|
| $610⚠️ Spans earnings | $16.85 | 32.7% | 46 |
| Strike | Premium | Ann. Yield* | Score |
|---|---|---|---|
| $660★ TOP⚠️ Spans earnings | $6.55 | 10.7% | 61 |
| $620⚠️ Spans earnings | $16.45 | 26.8% | 58 |
| $640⚠️ Spans earnings | $10.00 | 16.3% | 55 |
| $600⚠️ Spans earnings | $23.00 | 37.5% | 53 |
| $610⚠️ Spans earnings | $19.10 | 31.2% | 52 |
*Annualized yield assumes hold to expiration with no early assignment. Actual results may vary.
Weekly covered calls (7–14 DTE) offer faster theta decay and more flexibility but require active management. Monthly covered calls (30–45 DTE) balance time premium with less frequent rolling. For Deere & Company, current elevated IV makes both viable — weeklies capture the rich premium faster. The CC Score ranks both DTE ranges so you can compare directly.
The primary risk is capped upside: if Deere & Company rallies sharply, the call assignment locks shares to the strike price and forfeits gains above it. At the current top-ranked $660 strike (12.1% OTM), any rally beyond that level means you sell shares below market price. This risk is amplified with earnings in 9 days — a positive surprise can trigger a gap above your strike overnight, locking in the loss of upside before you can react. The model classifies covered calls as a sideways-to-mildly-bullish-outlook structure; under a strongly bullish view, wider strikes or call-free positioning sit in a different opportunity class. The CC Score penalizes strikes with elevated event risk so the worst-context setups rank lower.
Deere & Company currently has an IV Rank of 89%. IV is elevated, meaning option premiums are richer than usual — a favorable environment for selling covered calls. Higher IV translates directly to more income per contract for the same strike distance.
Deere & Company has earnings in 9 days. Selling covered calls into earnings is a double-edged sword: premiums are inflated by event IV, but post-earnings IV crush reduces remaining time value. Many traders choose expirations that expire before the earnings date or accept the crush as part of the premium collected.