Covered Calls

PENN Entertainment Inc

PENNNASDAQ · USD

15.91USD-0.22 (-1.37%)

985

PENN Entertainment Inc (PENN) Covered Calls

As of September 21, 2026, PENN has 34 covered call opportunities in the coming three months. Return ranges from 4.6 to 144.1% until expiration. Annualized return ranges from 9.2 to 285.3%. The nearest expiration is October 16, 2026. Maximum potential profit is $2,370.

Running PENN covered calls helps you generate consistent income from PENN Entertainment Inc's shares you already own, turning a long stock position into a yield-producing asset. A covered call on PENN Entertainment Inc involves holding the underlying stock and selling a call option against it, collecting premium in exchange for capping upside at the strike price. Use our scanner to find the best PENN covered calls in real time and filter for the strikes, expiries, and premiums that fit your strategy.

A covered call is one of the most widely used options strategies because it pairs limited risk with a clear income profile: if PENN stays below the strike at expiration, you keep the premium and the shares; if it rises above, you deliver the stock at the strike and still pocket the premium. Selling PENN covered calls works best when implied volatility is elevated, since richer premiums improve the risk-reward. Key inputs to evaluate include strike selection relative to delta, days to expiration, annualized return, and the probability of assignment — all of which determine whether a given PENN Entertainment Inc covered call is worth writing.

PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates 44 properties in 20 states; online sports betting in 13 jurisdictions; and iCasino in five under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet. The company was formerly known as Penn National Gaming, Inc. and changed its name to PENN Entertainment, Inc. in August 2022. PENN Entertainment, Inc.

was founded in 1972 and is based in Wyomissing, Pennsylvania.

Income-focused investors, long-term PENN holders, and systematic premium sellers all face the same challenge: finding the covered call strike and expiry that balances yield against the risk of being called away. Our scanner ranks covered calls by annualized return, downside protection, and probability of profit, so selling PENN covered calls becomes a measured decision instead of a guess. Stop eyeballing the chain — let the best PENN Entertainment Inc covered calls come to you, already filtered for the metrics that matter.

Stock Statistics

IndustryResorts & Casinos
SectorConsumer Cyclical
IV percentile54.76% Neutral
Market cap (M$)2,163
52 weeks high-27.86%
52 weeks low38.45%
Analyst recommendationBuy
1.87
Target price$24.75
55.56% above the current stock price
Dividend—
Payout ratio—
Earnings date2026-11-05
P/E—
Future P/E11.01
EPS (ttm)-6.34
EPS growth next 5 years—

As of September 21, 2026


2026-10-16	28	20.00	21.58	0.05	0.10	360.00	21.88	285.28	-0.30	+0.08	633	0.05
2027-01-15	119	25.00	51.98	0.15	0.30	870.00	52.89	162.22	-0.91	+0.11	1,846	0.15
2027-01-15	119	24.00	45.90	0.10	0.50	765.00	46.50	142.64	-0.61	+0.14	89	0.40
2026-10-16	28	18.00	9.42	0.05	0.50	160.00	9.73	126.79	-0.30	+0.25	577	0.45
2027-01-15	119	22.50	36.78	0.25	0.40	630.00	38.30	117.47	-1.52	+0.16	1,771	0.15
2028-01-21	490	40.00	143.16	0.15	2.00	2370.00	144.07	107.32	-0.91	+0.22	115	1.85
2026-11-20	63	19.00	15.50	0.15	0.65	270.00	16.41	95.09	-0.91	+0.25	0	0.50
2027-01-15	119	21.00	27.66	0.30	1.00	485.00	29.48	90.43	-1.82	+0.26	690	0.70
2028-01-21	490	35.00	112.77	0.45	1.00	1900.00	115.50	86.04	-2.74	+0.18	1,062	0.55
2026-10-16	28	17.00	3.34	0.45	0.65	100.00	6.08	79.24	-2.74	+0.42	232	0.20

As of September 21, 2026

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