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Penumbra, Inc.

PEN · Equity · —
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Market Data

PEN Key Data

Symbol
PEN
Name
Penumbra, Inc.
Type
Stock
Sector
Equity
Industry
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Exchange
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Live Price
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Market Cap
—
52-Week High
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52-Week Low
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Strategy
Covered Calls
Access
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About

About PEN

Penumbra, Inc. is a publicly traded stock commonly used in covered call strategies to generate consistent income from existing positions.

Strategy

PEN Covered Call Strategy

Covered calls on PEN allow shareholders to collect premium income while holding the stock. The most common approach is selling out-of-the-money calls 30-45 days to expiration (DTE) to balance premium income with potential upside. If you own 100 shares of PEN, you can sell 1 call contract per 100 shares to generate consistent monthly income.

Covered calls on PEN cap your upside at the strike price but provide downside cushion equal to the premium received.
How It Works

How to Run a Covered Call on PEN

01
Own 100 Shares
You must own at least 100 shares of PEN to sell 1 covered call contract. Each options contract covers exactly 100 shares.
02
Choose Strike and Expiry
Select a call strike above the current PEN price (OTM) and an expiry date. 30–45 DTE monthly cycles are most popular for income generation.
03
Sell the Call
Sell 1 call contract to collect the premium immediately into your account. This income is yours regardless of what PEN does next.
04
Manage at Expiry
If PEN stays below your strike, the option expires worthless and you keep the premium. If it rises above, shares get called away at the strike.
FAQ

Frequently Asked Questions

Can I sell covered calls on PEN?
Yes, PEN has listed options. You need to own 100 shares per contract. Use our screener to find the best strikes and expiries based on your goals.
What strike should I choose for PEN covered calls?
Most income traders choose strikes 2–10% above the current PEN price (OTM), balancing premium income with allowing some upside. The ideal strike depends on your income vs. upside tradeoff.
What is the best expiry for PEN covered calls?
Monthly options (30–45 DTE) have the best time-decay characteristics for covered call sellers. Weekly options on PEN offer more flexibility but require more active management.
How much premium can I collect on PEN covered calls?
Premium depends on PEN's implied volatility (IV), your chosen strike distance, and days to expiry. Higher IV means more premium. Use CoveredCalls.live to see real-time premiums and annualized returns for PEN.
What happens if PEN rises above my strike?
Your shares get called away at the strike price. You keep the premium collected plus any gain from your cost basis to the strike. You can then buy shares back and repeat the strategy.

Screen the Best PEN Covered Calls Right Now

Our screener scans PEN options every few minutes and ranks setups by annualized return, downside protection, and bid-ask spread quality.

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