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ChatGPT prompts for covered calls: 10 you can copy today

The best covered call prompts give the AI your numbers and ask it to check them. Here are 10 to copy, a worked strike comparison, and the questions you should never ask a chatbot.

Options guide · 9-minute read · Updated 2026-10-28

How to use these prompts

Each prompt below gives the AI your numbers and asks it to check, explain or list. None of them ask it to choose a stock or a strike. That's the job it's worst at.

Fill in the parts in square brackets with numbers from your broker's Options chain. Never let the chatbot supply a price. It may not see live data, and it can invent one that sounds right.

These work in ChatGPT, Claude, Gemini or any chat assistant. They're one part of using AI for options trading the careful way: you decide, the AI checks.

A Covered call, in one line: you own 100 shares, you sell a Call option on them, and you collect a premium now. In return you agree to sell the shares at the Strike price if the buyer wants them.

The 10 prompts

1. Explain this row of the chain

I own 100 shares of [stock]. Here is one row from the call side of my broker's options chain: [paste strike, bid, ask, last, volume, open interest, delta, IV, expiry]. Explain each number in plain words. Tell me which number is the price I'd likely get if I sold this call. Don't add any numbers I didn't give you.

2. Say my trade back to me

I own 100 shares bought at $[cost]. I plan to sell one call, strike $[strike], expiry [date], for $[premium] per share. Describe this trade back to me in 4 plain sentences: what I get, what I agree to, and what happens if the stock ends above or below the strike.

3. Check my break-even and max loss

Covered call. Shares bought at $[cost]. Call strike $[strike], premium $[premium] per share, one contract = 100 shares. Work out, showing every step: premium collected in dollars, break-even price, max gain, and max loss if the stock goes to zero. If any input is missing, ask me instead of guessing.

Do the same math yourself first. If your answer and the AI's differ, find out why before you trade. Check both in the covered call calculator.

4. Compare two strikes

I own 100 shares at $[cost]. Compare two calls with the same expiry: strike $[A] for $[premium A] and strike $[B] for $[premium B]. Make a table with the stock at expiry at these prices: [list 5 prices, including one far below my cost]. Show my total result for each strike. No opinion on which is better.

5. List every risk

Here is my covered call: [paste the trade]. List every way this trade could cost me money or leave me unhappy, from most to least serious. Include the shares falling, getting called away, early assignment, dividends and earnings. Plain words, one line each.

6. Am I happy to sell at this strike?

I bought my shares at $[cost]. I'm thinking of a call at strike $[strike]. If I get called away, what is my total result on the shares plus the premium? Is the strike below my cost? Explain what that would lock in.

7. Check the dates I found

My call expires on [date]. I looked up these dates myself: next earnings [date], next ex-dividend date [date], dividend $[amount] per share. Do any of them fall before expiry? Explain how each could change my trade, including early assignment before the ex-dividend date.

Find those dates on the company's investor page or your broker, not in the chat. See Ex-dividend date for why it matters.

8. Plan my exits

For this covered call [paste trade], help me write my exit plan in advance: what I'll do if the stock jumps above the strike, what I'll do if it falls [x]% below my cost, and what I'll do with a week left. Ask me questions until each answer is a clear rule.

9. Test it against my rules

My covered call rules are: [paste your rules]. My trade is: [paste trade]. Go through each rule and say pass, fail or unclear. Don't soften a fail.

10. Quiz me before I place it

Ask me 5 questions, one at a time, to check I understand this covered call: [paste trade]. Include one about the worst case and one about getting called away. Tell me if my answer is wrong and why.

A worked example: comparing two strikes (an illustration, not a trade idea)

You own 100 shares of a made-up stock, XYZ, bought at $50. It trades at $50 today. On your chain, the 30-day calls show:

• $52 strike, bid $2.00: you'd collect $200.
• $55 strike, bid $1.00: you'd collect $100.

You run prompt 4 with five prices. Here is what a correct answer looks like. Check the AI's table against it.

What the table shows:

1. The downside is almost the same either way. At $40 you lose $800 or $900. The premium is a small cushion, not protection.
2. The closer strike pays more now and caps you sooner. Above $52, the $52 call stops gaining. The $55 call has more room.

The AI's job here is to build that table without mistakes. If its $55 row says "+$500" and forgets the premium, you just caught it. The choice between the two is yours. See the covered call strategy explained for the full outcome map.

What never to ask a chatbot

• "Which stock should I sell covered calls on?" It will answer. The answer is a guess said with confidence.
• "What's the premium on XYZ's $55 call right now?" It may not see live quotes. It may make one up.
• "Which strike will expire worthless?" Nobody knows. Delta gives a rough market estimate, and it's on your chain already.
• "Will XYZ go up this month?" No tool can tell you that.
• "When are XYZ's earnings?" It may give an old date. Look it up at the source and paste it in.

Make any prompt stricter

Add these lines to the end of any prompt above:

• "Show every step of the math."
• "Use only the numbers I gave you."
• "If you're unsure, say 'unclear' instead of guessing."
• "Don't tell me whether to take the trade."

The last line matters most. It keeps the AI in the checker's seat. Covered calls are one half of the wheel strategy. The other half has its own pack: ChatGPT prompts for cash-secured puts.

Questions