The Advanced Covered Call Calculator is a powerful Thinkorswim custom quote script designed for options traders who want to quickly and accurately evaluate covered call opportunities directly from the options chain. With real-time profit metrics and customizable cost basis inputs, this tool takes the guesswork out of managing covered call strategies.
Key Features:
✅ Cost Basis Flexibility: Choose whether to calculate returns using the current underlying price or your custom entry cost basis.
✅ Premium % Calculation: Instantly see the percentage return generated by the option premium relative to your stock position.
✅ Premium + Strike Gain: Calculates the combined return from both the option premium and potential stock appreciation at strike price.
✅ Visual Labels: Displays easy-to-read labels directly on the options chain showing percentage returns.
✅ Smart Highlighting: Returns meeting your set profitability threshold (default 0.5 / 50%) are automatically highlighted in green for quick decision-making.
✅ Plug-and-Play Setup: Simply paste the script into Thinkorswim’s Custom Quote settings on the options chain—no chart overlay required.
Perfect For:
Options traders running covered call strategies who want to streamline their trade evaluation process, compare strike opportunities, and maximize income with confidence.
⚠️ Disclaimer: This indicator is for educational use only. It does not constitute investment advice. Trading involves substantial risk; never trade with money you cannot afford to lose. Past performance is not indicative of future results.
The Advanced Covered Call Calculator is a powerful Thinkorswim custom quote script designed for options traders who want to quickly and accurately evaluate covered call opportunities directly from the options chain. With real-time profit metrics and customizable cost basis inputs, this tool takes the guesswork out of managing covered call strategies.
Key Features:
✅ Cost Basis Flexibility: Choose whether to calculate returns using the current underlying price or your custom entry cost basis.
✅ Premium % Calculation: Instantly see the percentage return generated by the option premium relative to your stock position.
✅ Premium + Strike Gain: Calculates the combined return from both the option premium and potential stock appreciation at strike price.
✅ Visual Labels: Displays easy-to-read labels directly on the options chain showing percentage returns.
✅ Smart Highlighting: Returns meeting your set profitability threshold (default 0.5 / 50%) are automatically highlighted in green for quick decision-making.
✅ Plug-and-Play Setup: Simply paste the script into Thinkorswim’s Custom Quote settings on the options chain—no chart overlay required.
Perfect For:
Options traders running covered call strategies who want to streamline their trade evaluation process, compare strike opportunities, and maximize income with confidence.
⚠️ Disclaimer: This indicator is for educational use only. It does not constitute investment advice. Trading involves substantial risk; never trade with money you cannot afford to lose. Past performance is not indicative of future results.
