{
  "id": 1865189,
  "title": "Huge Unusual Long-Dated Call Options in Oracle Corp - A Covered Call ORCL Play?",
  "url": "https://urgent.news/2026/08/17/huge-unusual-long-dated-call-options-in-oracle-corp-a-covered-call",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-17T17:30:02.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/options/articles/huge-unusual-long-dated-call-173002778.html"
  },
  "original_language": "en",
  "account": "Recent activity surrounding Oracle Corporation's (ORCL) call options has aroused interest, with unusual volume in long-dated options that expire in over two years. This may suggest institutional investors are capitalizing on the stock's low price. ORCL is currently trading at $148.88, having plummeted since its peak of $248.15 on June 1, and it is up 30% from its lowest point of $114.99 reached on July 24.\n\nA Barchart report reveals that over 4,000 call options with a super-high out-of-the-money (OTM) strike price of $280.00 have been bought, with an expiration date of Sept. 15, 2028. These calls are 88% OTM, meaning for the buyers to realize any intrinsic value, ORCL stock would need to rise to $306.05. The premium paid for these calls is $26.05, and the bid-ask spread is between $25.70 and $29.00, with a midpoint of $27.35. This creates a midpoint intrinsic breakeven point at $307.55, which is 106% above the current stock price.\n\nThe recent decline in price targets for ORCL may indicate that these higher-priced OTM calls are being initiated by existing investors, possibly through covered call strategies. If ORCL stays flat, sellers of these covered calls would receive an average annual income of 8.82%, or an annualized 18.37% income yield over two years. Additionally, they could potentially gain 93.26% if ORCL rises to the strike price of $280.00 within the next two years, resulting in a total potential return of 102.44%.\n\nFurthermore, covered call sellers would also benefit from downside protection, as the income received ($27.35) would mitigate against any unrealized losses if ORCL were to drop to the July 24 price of $114.99. This represents 18.88% downside protection against a potential drop in ORCL stock, nearly matching the price during the stock's lowest point.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}