# The Professional Guide to Weekly Income with Covered Calls ▴ Guide

**Published:** 2025-08-08
**Categories:** Guide

---

![A segmented, teal-hued system component with a dark blue inset, symbolizing an RFQ engine within a Prime RFQ, emerges from darkness. Illuminated by an optimized data flow, its textured surface represents market microstructure intricacies, facilitating high-fidelity execution for institutional digital asset derivatives via private quotation for multi-leg spreads](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-intelligence-layer-for-institutional-digital-asset-derivatives-rfq.jpg)

![Precision-machined metallic mechanism with intersecting brushed steel bars and central hub, revealing an intelligence layer, on a polished base with control buttons. This symbolizes a robust RFQ protocol engine, ensuring high-fidelity execution, atomic settlement, and optimized price discovery for institutional digital asset derivatives within complex market microstructure](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-rfq-protocol-engine-1.jpg)

## The Yield Mechanism Defined

A core function of a capital asset is its capacity to generate yield. The [covered call](https://prime.greeks.live/area/covered-call/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) is a direct, systematic method for activating this capacity. It re-frames an equity holding from a passive store of value into a dynamic source of [weekly income](https://prime.greeks.live/area/weekly-income/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite). This is achieved by selling a call option against an existing long stock position, a transaction that converts the asset’s latent volatility into a tangible cash premium.

The operation is precise. For every 100 shares of an [underlying asset](https://prime.greeks.live/question/does-the-underlying-assets-liquidity-profile-determine-the-optimal-execution-protocol/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) held, one call option is sold, creating a contractual obligation to sell those shares at a predetermined price, the strike price, on or before a specific expiration date. The premium received from this sale is the immediate, realized income. This structure transforms the probability of future price movements into a present financial return. The strategy functions as a yield-harvesting engine, systematically converting the market’s expectation of price fluctuation, known as [implied volatility](https://prime.greeks.live/area/implied-volatility/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), into a consistent revenue stream.

Understanding this mechanism requires a shift in perspective. The goal is the consistent generation of income through the sale of options, with capital appreciation on the [underlying stock](https://prime.greeks.live/area/underlying-stock/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) becoming a secondary objective. The premium collected provides a quantifiable buffer against minor declines in the stock’s price, effectively lowering the position’s cost basis with each transaction. The Cboe S&P 500 BuyWrite Index (BXM), a benchmark for this strategy, demonstrates its risk-modifying characteristics.

Studies show that while its long-term returns are comparable to the S&P 500, it achieves them with significantly lower volatility. This data underscores the strategy’s primary function ▴ to generate income and reduce portfolio volatility. The trade-off is a cap on the potential upside of the underlying stock; should the stock price rise substantially above the [strike price](https://prime.greeks.live/area/strike-price/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), the shares will be “called away,” and the seller forgoes any gains beyond that point. This is a calculated exchange of unlimited upside potential for immediate, consistent income. The professional operator views this as an engineering problem, balancing the variables of strike price, [expiration date](https://prime.greeks.live/area/expiration-date/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), and implied volatility to construct a desired return profile.

> Over the long term, benchmark indexes for covered call strategies have produced returns similar to the S&P 500 but with approximately two-thirds of the risk.

The engine driving the premium’s value is implied volatility (IV). IV represents the market’s forecast of the likely movement in a security’s price. Higher implied volatility signifies greater expected price swings, which in turn increases the price of options. For the covered call writer, elevated IV translates directly into higher premiums collected.

Periods of market uncertainty or before significant events like earnings announcements often cause IV to rise, presenting prime opportunities for selling calls. A key academic insight is that the profitability of covered call strategies is linked to the spread between implied volatility and the subsequent realized volatility. Historically, implied volatility has often been higher than the volatility that actually materializes, creating a persistent edge for options sellers. This phenomenon, known as the [variance risk premium](https://prime.greeks.live/area/variance-risk-premium/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), provides a systematic tailwind for well-executed covered call programs.

The strategy, therefore, is an exercise in selling volatility. Each weekly contract sold is a calibrated transaction designed to capture this premium, turning market uncertainty into a predictable and repeatable source of income.

![A central, metallic, multi-bladed mechanism, symbolizing a core execution engine or RFQ hub, emits luminous teal data streams. These streams traverse through fragmented, transparent structures, representing dynamic market microstructure, high-fidelity price discovery, and liquidity aggregation](https://options.greeks.live/wp-content/uploads/2025/07/principal-grade-digital-asset-derivatives-rfq-protocol-engine-facilitating-high-fidelity-execution-and-optimal-price-discovery-across-fragmented-market-microstructure.jpg)

![Luminous, multi-bladed central mechanism with concentric rings. This depicts RFQ orchestration for institutional digital asset derivatives, enabling high-fidelity execution and optimized price discovery](https://options.greeks.live/wp-content/uploads/2025/07/optimized-digital-asset-derivatives-rfq-protocol-execution-engine.jpg)

## The Weekly Yield Cycle

A durable income stream from [covered calls](https://prime.greeks.live/area/covered-calls/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) is the product of a disciplined, repeatable process. It is a weekly cycle of analysis, execution, and management that transforms a theoretical edge into [cash flow](https://prime.greeks.live/area/cash-flow/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite). This operational cadence is designed to be systematic, removing emotion and discretionary decision-making in favor of a clear, rules-based approach. The process begins with identifying suitable underlying assets and culminates in the active management of the position through its lifecycle.

Mastering this weekly rhythm is the critical step in moving from conceptual understanding to practical application. It requires a focused methodology for each stage of the trade, from initiation to conclusion.

![A focused view of a robust, beige cylindrical component with a dark blue internal aperture, symbolizing a high-fidelity execution channel. This element represents the core of an RFQ protocol system, enabling bespoke liquidity for Bitcoin Options and Ethereum Futures, minimizing slippage and information leakage](https://options.greeks.live/wp-content/uploads/2025/07/institutional-grade-digital-asset-derivatives-rfq-engine-core-precision-component.jpg)

## Asset Selection a Professional Framework

The foundation of any successful [covered call strategy](https://prime.greeks.live/area/covered-call-strategy/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) is the quality of the underlying asset. The selection process extends beyond simply choosing a familiar stock. Professional criteria are centered on liquidity, volatility characteristics, and the asset’s fundamental stability. High liquidity, evidenced by significant average daily trading volume in both the stock and its options, is non-negotiable.

It ensures the ability to enter and exit positions efficiently with minimal slippage, which is the difference between the expected price of a trade and the price at which the trade is actually executed. For substantial positions, this focus on liquidity is paramount, often leading institutional desks to utilize Request for Quote (RFQ) systems to source block liquidity for the underlying stock purchase, guaranteeing best execution without moving the market.

Volatility is the fuel for premium income, but it must be the right kind of volatility. We seek assets with consistently elevated implied volatility (IV), as this directly translates to richer option premiums. Tools like IV Rank and IV Percentile are used to assess whether the current IV is high or low relative to its own historical range. The ideal candidate is a fundamentally sound company, perhaps an established ETF or a blue-chip stock, that exhibits consistently high IV.

This combination provides a stable underlying asset while maximizing the potential for [income generation](https://prime.greeks.live/area/income-generation/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite). Assets prone to erratic, unpredictable news-driven price spikes are generally avoided, as they introduce a level of risk that is difficult to model and manage within a systematic income framework.

![A high-precision, dark metallic circular mechanism, representing an institutional-grade RFQ engine. Illuminated segments denote dynamic price discovery and multi-leg spread execution](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-execution-engine-7.jpg)

## Calibrating the Strike Price and Expiration

The selection of the strike price is a critical decision that dictates both the potential income and the probability of the stock being called away. This choice is governed by the option’s “[delta](https://prime.greeks.live/area/delta/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite),” a Greek that measures the rate of change in the option’s price for a one-dollar change in the underlying stock’s price. Delta also serves as a rough proxy for the probability of an option expiring in-the-money. A common professional approach is to sell call options with a delta around 0.30.

This strike price is far enough out-of-the-money to provide a reasonable buffer for [stock price](https://prime.greeks.live/question/in-what-scenarios-does-tying-compensation-to-operational-metrics-outperform-stock-price-alignment/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) appreciation while still offering a meaningful premium. A 0.30 delta suggests approximately a 30% chance of the stock finishing above the strike price at expiration, creating a favorable risk-reward balance for the income-focused investor.

The choice of expiration date is equally important. A weekly cycle is preferred for income generation because it maximizes the effect of [time decay](https://prime.greeks.live/area/time-decay/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), or “theta.” Theta represents the rate at which an option’s value erodes as it approaches expiration. This decay accelerates in the final weeks and days of an option’s life, which is beneficial for the option seller. By selling weekly options, the investor can harvest this accelerated time decay 52 times a year, compounding the income generated.

While longer-dated options offer larger upfront premiums, their rate of time decay is slower, making them less efficient for a strategy focused on maximizing regular cash flow. The weekly cadence aligns perfectly with the goal of generating a consistent, predictable income stream.

![A sophisticated modular apparatus, likely a Prime RFQ component, showcases high-fidelity execution capabilities. Its interconnected sections, featuring a central glowing intelligence layer, suggest a robust RFQ protocol engine](https://options.greeks.live/wp-content/uploads/2025/07/institutional-rfq-engine-core-for-digital-asset-derivatives-high-fidelity-execution-protocols.jpg)

## The Weekly Execution Cadence a Step-By-Step Process

A structured weekly routine is essential for consistent execution. This process ensures that all critical variables are considered at the optimal time, turning the strategy into a well-oiled machine.

- 
**Monday & Tuesday Analysis and Positioning** ▴ The week begins with screening for opportunities. This involves identifying stocks or ETFs that meet the predefined criteria for liquidity and implied volatility. Once a candidate is selected, the focus shifts to execution. The investor acquires the underlying shares (if not already owned) in blocks of 100.
Concurrently, the investor sells one [call option](https://prime.greeks.live/area/call-option/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) for each 100-share lot, selecting the strike price based on the target delta (e.g. 0.30) and a weekly expiration date, typically the upcoming Friday.

- 
**Wednesday & Thursday Monitoring** ▴ With the position established, the middle of the week is dedicated to monitoring. The primary forces at work are time decay (theta), which benefits the position, and price movement of the underlying stock (delta and gamma). The position is managed by exception.
No action is required unless the stock price makes a significant, adverse move. The goal is to let [theta decay](https://prime.greeks.live/area/theta-decay/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) work in the seller’s favor.

- 
**Friday Expiration and Decision Point** ▴ Friday is the decisive day. As the options approach expiration, one of three scenarios will unfold, each with a clear, pre-planned response.

<li>
**Scenario 1 The Option Expires Worthless** ▴ If the stock price closes below the strike price, the option expires worthless. The seller retains the full premium received and keeps the underlying shares. The cycle is complete, and the investor prepares to repeat the process the following week.

- 
**Scenario 2 The Stock is Called Away** ▴ If the stock price closes above the strike price, the shares are automatically sold at the strike price. The investor’s profit is the difference between the stock’s purchase price and the strike price, plus the option premium received. The capital is now free to initiate a new position the following week.

- 
**Scenario 3 Active Management (Rolling)** ▴ If the stock price is approaching the strike price near expiration, and the investor wishes to avoid having the shares called away, they can “roll” the position. This involves buying back the existing short call and simultaneously selling a new call option with a later expiration date and often a higher strike price. This action typically results in a net credit, allowing the investor to collect more premium while extending the trade’s duration and raising the potential profit ceiling.

</li>

![A central, precision-engineered component with teal accents rises from a reflective surface. This embodies a high-fidelity RFQ engine, driving optimal price discovery for institutional digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-rfq-execution-engine-for-price-discovery.jpg)

![A transparent, angular teal object with an embedded dark circular lens rests on a light surface. This visualizes an institutional-grade RFQ engine, enabling high-fidelity execution and precise price discovery for digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-rfq-engine-high-fidelity-execution.jpg)

## Portfolio Alpha Integration

Mastering the weekly covered call cycle is the foundational skill. The subsequent stage of professional development involves integrating this income-generating engine into a broader portfolio context. This means viewing the strategy as a “yield sleeve” ▴ a dedicated allocation designed to produce consistent cash flow and reduce overall portfolio volatility.

The expansion of this strategy involves moving beyond single-stock positions to diversified instruments like ETFs, and employing more sophisticated structures to refine the risk-reward profile. This evolution transforms the tactic of selling a single option into a strategic allocation that enhances the risk-adjusted returns of the entire investment portfolio.

![A multi-layered, circular device with a central concentric lens. It symbolizes an RFQ engine for precision price discovery and high-fidelity execution](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-engine-for-precision-execution.jpg)

## Diversification through Index and Sector ETFs

Applying the covered call strategy to broad-market or sector-specific ETFs is a logical next step for risk management. Writing calls against an ETF like the SPDR S&P 500 ETF (SPY) or the Invesco QQQ Trust (QQQ) immediately mitigates idiosyncratic risk, which is the risk associated with a single company. An unexpected negative event impacting one company will have a muted effect on a diversified index. This approach smooths returns and creates a more predictable income stream.

Furthermore, major index ETFs boast extreme liquidity in both their shares and their options chains, making it possible to deploy significant capital without concerns about execution quality. This allows the investor to run the same systematic weekly income strategy with a substantially reduced single-stock risk profile, making it a cornerstone for larger, more conservative income-oriented portfolios.

![A sophisticated RFQ engine module, its spherical lens observing market microstructure and reflecting implied volatility. This Prime RFQ component ensures high-fidelity execution for institutional digital asset derivatives, enabling private quotation for block trades](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-engine-for-best-execution-protocol.jpg)

## Advanced Structures the Covered Strangle

For the operator comfortable with managing multi-leg positions, the covered call can be expanded into a “[covered strangle](https://prime.greeks.live/area/covered-strangle/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite).” This involves selling both an out-of-the-money call option and an out-of-the-money put option against the long stock position. This structure significantly increases the premium collected, as the investor is now selling two options instead of one. The short put introduces an obligation to buy more shares if the stock price falls below the put’s strike price. This is a calculated risk.

The investor should only employ this strategy on an underlying asset they are willing to acquire more of at the lower price. The additional premium from the sold put provides a wider buffer against a decline in the stock price, effectively lowering the position’s break-even point. This advanced technique amplifies income generation but requires a more nuanced understanding of risk management, particularly the management of the additional obligation from the short put.

![Central teal-lit mechanism with radiating pathways embodies a Prime RFQ for institutional digital asset derivatives. It signifies RFQ protocol processing, liquidity aggregation, and high-fidelity execution for multi-leg spread trades, enabling atomic settlement within market microstructure via quantitative analysis](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-core-for-institutional-digital-asset-rfq-protocol-execution-engine.jpg)

## The Long View a System for Compounding

The true power of a weekly covered call strategy reveals itself over time through the effect of compounding. Each week that a premium is collected and not offset by losses, the total capital base grows. As the capital base increases, the investor can acquire more shares, allowing them to sell more contracts and generate even greater premium income. This creates a virtuous cycle of growth.

This is a patient, methodical approach to wealth accumulation. It requires discipline and a long-term perspective. There will be weeks where stocks are called away, and there will be periods of market decline that test resolve. Visible intellectual grappling with the retail narrative is essential; the common portrayal of covered calls as a simple “get rich quick” scheme is a fallacy.

True success is not measured by one spectacular trade but by the disciplined execution of the strategy over hundreds of cycles, allowing the mathematical edge of the variance risk premium and the power of compounding to work. The strategy’s performance should be benchmarked and analyzed, not just on returns, but on risk-adjusted metrics like the Sharpe or Sortino ratios, which is how professional managers evaluate performance. This long-term, data-driven view is what separates a professional income system from a series of speculative trades. It is a business, and the product is yield.

![A precision execution pathway with an intelligence layer for price discovery, processing market microstructure data. A reflective block trade sphere signifies private quotation within a dark pool](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-engine-precision-execution.jpg)

## Mastery Is a Process

The journey from understanding the mechanics of a covered call to integrating it as a core portfolio function is a transition in mindset. It is the progression from viewing an asset as a static holding to recognizing it as a dynamic system capable of producing consistent yield. The principles outlined here are not a set of secrets, but a framework for disciplined operation. The market provides the raw material of volatility.

The tools of options provide the means of conversion. The strategist provides the intellect and the discipline to execute the process consistently. Success is found in the methodical application of this process, week after week, allowing the inherent edge of the strategy to compound over time. The ultimate outcome is a recalibrated approach to investing, one where income generation becomes an active, engineered component of portfolio performance.

![A precision metallic mechanism with radiating blades and blue accents, representing an institutional-grade Prime RFQ for digital asset derivatives. It signifies high-fidelity execution via RFQ protocols, leveraging dark liquidity and smart order routing within market microstructure](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocols-engine.jpg)

## Glossary

<a href="https://prime.greeks.live/area/weekly-income/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A precise RFQ engine extends into an institutional digital asset liquidity pool, symbolizing high-fidelity execution and advanced price discovery within complex market microstructure. This embodies a Principal's operational framework for multi-leg spread strategies and capital efficiency](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-rfq-engine-interfacing-core-liquidity-system.jpg)

## Weekly Income

Meaning ▴ Weekly Income represents a critical, recurring financial metric, defining the aggregate net realized financial gain or loss attributable to a specific trading book, portfolio, or operational unit over a precise seven-day period. </a><a href="https://prime.greeks.live/area/covered-call/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A central mechanism of an Institutional Grade Crypto Derivatives OS with dynamically rotating arms. These translucent blue panels symbolize High-Fidelity Execution via an RFQ Protocol, facilitating Price Discovery and Liquidity Aggregation for Digital Asset Derivatives within complex Market Microstructure](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-rfq-engine-for-digital-asset-derivatives-best-execution.jpg)

## Covered Call

Meaning ▴ A Covered Call represents a foundational derivatives strategy involving the simultaneous sale of a call option and the ownership of an equivalent amount of the underlying asset. </a><a href="https://prime.greeks.live/area/implied-volatility/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A cutaway view reveals an advanced RFQ protocol engine for institutional digital asset derivatives. Intricate coiled components represent algorithmic liquidity provision and portfolio margin calculations](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-rfq-protocol-engine-digital-asset-derivatives-core-internal-mechanism-visualized.jpg)

## Implied Volatility

Meaning ▴ Implied Volatility quantifies the market's forward expectation of an asset's future price volatility, derived from current options prices. </a><a href="https://prime.greeks.live/question/does-the-underlying-assets-liquidity-profile-determine-the-optimal-execution-protocol/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A symmetrical, multi-faceted digital structure, a liquidity aggregation engine, showcases translucent teal and grey panels. This visualizes diverse RFQ channels and market segments, enabling high-fidelity execution for institutional digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/precision-liquidity-aggregation-engine-for-digital-asset-derivatives-trading.jpg)

## Underlying Asset

An asset's liquidity profile is the primary determinant, dictating the strategic balance between market impact and timing risk. </a><a href="https://prime.greeks.live/area/underlying-stock/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A robust circular Prime RFQ component with horizontal data channels, radiating a turquoise glow signifying price discovery. This institutional-grade RFQ system facilitates high-fidelity execution for digital asset derivatives, optimizing market microstructure and capital efficiency](https://options.greeks.live/wp-content/uploads/2025/07/institutional-rfq-engine-for-digital-asset-derivatives-execution.jpg)

## Underlying Stock

Meaning ▴ The underlying stock represents the specific equity security serving as the foundational reference asset for a derivative instrument, such as an option or a future. </a><a href="https://prime.greeks.live/area/expiration-date/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A precision metallic dial on a multi-layered interface embodies an institutional RFQ engine. The translucent panel suggests an intelligence layer for real-time price discovery and high-fidelity execution of digital asset derivatives, optimizing capital efficiency for block trades within complex market microstructure](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-engine-high-fidelity-execution-system.jpg)

## Expiration Date

Meaning ▴ The Expiration Date signifies the precise timestamp at which a derivative contract's validity ceases, triggering its final settlement or physical delivery obligations. </a><a href="https://prime.greeks.live/area/strike-price/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A precision-engineered RFQ protocol engine, its central teal sphere signifies high-fidelity execution for digital asset derivatives. This module embodies a Principal's dedicated liquidity pool, facilitating robust price discovery and atomic settlement within optimized market microstructure, ensuring best execution](https://options.greeks.live/wp-content/uploads/2025/08/institutional-rfq-engine-for-digital-asset-derivatives-best-execution.jpg)

## Strike Price

Meaning ▴ The strike price represents the predetermined value at which an option contract's underlying asset can be bought or sold upon exercise. </a><a href="https://prime.greeks.live/area/variance-risk-premium/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sleek Principal's Operational Framework connects to a glowing, intricate teal ring structure. This depicts an institutional-grade RFQ protocol engine, facilitating high-fidelity execution for digital asset derivatives, enabling private quotation and optimal price discovery within market microstructure](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-execution-engine-for-digital-asset-derivatives-rfq.jpg)

## Variance Risk Premium

Meaning ▴ The Variance Risk Premium represents the empirically observed difference between implied volatility, derived from options prices, and subsequently realized volatility of an underlying asset. </a><a href="https://prime.greeks.live/area/covered-calls/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A precision-engineered component, like an RFQ protocol engine, displays a reflective blade and numerical data. It symbolizes high-fidelity execution within market microstructure, driving price discovery, capital efficiency, and algorithmic trading for institutional Digital Asset Derivatives on a Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/high-fidelity-execution-engine-core-for-institutional-digital-asset-derivatives-rfq-protocol-price-discovery.jpg)

## Covered Calls

Meaning ▴ Covered Calls define an options strategy where a holder of an underlying asset sells call options against an equivalent amount of that asset. </a><a href="https://prime.greeks.live/area/cash-flow/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sleek cream-colored device with a dark blue optical sensor embodies Price Discovery for Digital Asset Derivatives. It signifies High-Fidelity Execution via RFQ Protocols, driven by an Intelligence Layer optimizing Market Microstructure for Algorithmic Trading on a Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-high-fidelity-execution-engine-optimized-rfq-protocols-prime-os-intelligence-layer.jpg)

## Cash Flow

Meaning ▴ Cash Flow represents the net amount of cash and cash equivalents moving into and out of a business or financial entity over a specified period. </a><a href="https://prime.greeks.live/area/covered-call-strategy/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A central reflective sphere, representing a Principal's algorithmic trading core, rests within a luminous liquidity pool, intersected by a precise execution bar. This visualizes price discovery for digital asset derivatives via RFQ protocols, reflecting market microstructure optimization within an institutional grade Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/principal-rfq-engine-for-digital-asset-derivatives-best-execution.jpg)

## Covered Call Strategy

Meaning ▴ A Covered Call Strategy constitutes a systemic overlay where a Principal holding a long position in an underlying asset simultaneously sells a corresponding number of call options on that same asset. </a><a href="https://prime.greeks.live/area/income-generation/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A precision-engineered, multi-layered mechanism symbolizing a robust RFQ protocol engine for institutional digital asset derivatives. Its components represent aggregated liquidity, atomic settlement, and high-fidelity execution within a sophisticated market microstructure, enabling efficient price discovery and optimal capital efficiency for block trades](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-rfq-protocol-engine.jpg)

## Income Generation

Meaning ▴ Income Generation defines the deliberate, systematic process of creating consistent revenue streams from deployed capital within the institutional digital asset derivatives ecosystem. </a><a href="https://prime.greeks.live/area/delta/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A transparent, multi-faceted component, indicative of an RFQ engine's intricate market microstructure logic, emerges from complex FIX Protocol connectivity. Its sharp edges signify high-fidelity execution and price discovery precision for institutional digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-engine-optimized-for-best-execution.jpg)

## Delta

Meaning ▴ Delta quantifies the rate of change of a derivative's price relative to a one-unit change in the underlying asset's price. </a><a href="https://prime.greeks.live/question/in-what-scenarios-does-tying-compensation-to-operational-metrics-outperform-stock-price-alignment/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A dark blue sphere, representing a deep institutional liquidity pool, integrates a central RFQ engine. This system processes aggregated inquiries for Digital Asset Derivatives, including Bitcoin Options and Ethereum Futures, enabling high-fidelity execution](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-engine-for-optimized-liquidity-aggregation.jpg)

## Stock Price

Tying compensation to operational metrics outperforms stock price when the market signal is disconnected from controllable, long-term value creation. </a><a href="https://prime.greeks.live/area/time-decay/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A cutaway view reveals the intricate core of an institutional-grade digital asset derivatives execution engine. The central price discovery aperture, flanked by pre-trade analytics layers, represents high-fidelity execution capabilities for multi-leg spread and private quotation via RFQ protocols for Bitcoin options](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-prime-os-rfq-protocol-engine-for-high-fidelity-execution-and-price-discovery-on-volatility-surface.jpg)

## Time Decay

Meaning ▴ Time decay, formally known as theta, represents the quantifiable reduction in an option's extrinsic value as its expiration date approaches, assuming all other market variables remain constant. </a><a href="https://prime.greeks.live/area/call-option/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A precise central mechanism, representing an institutional RFQ engine, is bisected by a luminous teal liquidity pipeline. This visualizes high-fidelity execution for digital asset derivatives, enabling precise price discovery and atomic settlement within an optimized market microstructure for multi-leg spreads](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-core-execution-system-1.jpg)

## Call Option

Meaning ▴ A Call Option represents a standardized derivative contract granting the holder the right, but critically, not the obligation, to purchase a specified quantity of an underlying digital asset at a predetermined strike price on or before a designated expiration date. </a><a href="https://prime.greeks.live/area/theta-decay/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Sleek teal and beige forms converge, embodying institutional digital asset derivatives platforms. A central RFQ protocol hub with metallic blades signifies high-fidelity execution and price discovery](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-engine-microstructure.jpg)

## Theta Decay

Meaning ▴ Theta decay quantifies the temporal erosion of an option's extrinsic value, representing the rate at which an option's price diminishes purely due to the passage of time as it approaches its expiration date. </a><a href="https://prime.greeks.live/area/covered-strangle/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A Principal's RFQ engine core unit, featuring distinct algorithmic matching probes for high-fidelity execution and liquidity aggregation. This price discovery mechanism leverages private quotation pathways, optimizing crypto derivatives OS operations for atomic settlement within its systemic architecture](https://options.greeks.live/wp-content/uploads/2025/08/principals-rfq-engine-driving-optimal-digital-asset-derivatives.jpg)

## Covered Strangle

Meaning ▴ A Covered Strangle defines a derivatives strategy where a Principal holds a long position in an underlying digital asset while simultaneously selling both an out-of-the-money call option and an out-of-the-money put option on that same asset with identical expiration dates. </a>

**Tags:** [Strike Price Selection](https://options.greeks.live/area/strike-price-selection/), [Options RFQ](https://options.greeks.live/area/options-rfq/), [Strike Price](https://options.greeks.live/area/strike-price/), [Covered Call](https://options.greeks.live/area/covered-call/), [Expiration Date](https://options.greeks.live/area/expiration-date/), [Income Generation](https://options.greeks.live/area/income-generation/)	

## Discover More

- 
### [Mastering the Covered Call for Superior Risk-Adjusted Portfolio Returns](https://options.greeks.live/guide/mastering-the-covered-call-for-superior-risk-adjusted-portfolio-returns/)
![A focused view of a robust, beige cylindrical component with a dark blue internal aperture, symbolizing a high-fidelity execution channel. This element represents the core of an RFQ protocol system, enabling bespoke liquidity for Bitcoin Options and Ethereum Futures, minimizing slippage and information leakage.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-grade-digital-asset-derivatives-rfq-engine-core-precision-component.jpg)

Transform equity holdings into a systematic yield engine for superior risk-adjusted returns.

- 
### [Mastering Covered Calls for Consistent Monthly Income](https://options.greeks.live/guide/mastering-covered-calls-for-consistent-monthly-income/)
![A sophisticated mechanism features a segmented disc, indicating dynamic market microstructure and liquidity pool partitioning. This system visually represents an RFQ protocol's price discovery process, crucial for high-fidelity execution of institutional digital asset derivatives and managing counterparty risk within a Prime RFQ.](https://options.greeks.live/wp-content/uploads/2025/07/advanced-digital-asset-derivatives-rfq-liquidity-aggregation-system.jpg)

A systematic method for converting equity holdings into a consistent monthly income stream through disciplined option selling.

- 
### [Generate Consistent Income Using the Covered Call Strategy](https://options.greeks.live/guide/generate-consistent-income-using-the-covered-call-strategy/)
![Precision-machined metallic mechanism with intersecting brushed steel bars and central hub, revealing an intelligence layer, on a polished base with control buttons. This symbolizes a robust RFQ protocol engine, ensuring high-fidelity execution, atomic settlement, and optimized price discovery for institutional digital asset derivatives within complex market microstructure.](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-rfq-protocol-engine-1.jpg)

Transform your stock holdings into an active income engine with the disciplined application of the covered call strategy.

- 
### [A Systematic Guide to Generating Consistent Income with Options](https://options.greeks.live/guide/a-systematic-guide-to-generating-consistent-income-with-options/)
![A polished, dark spherical component anchors a sophisticated system architecture, flanked by a precise green data bus. This represents a high-fidelity execution engine, enabling institutional-grade RFQ protocols for digital asset derivatives. It embodies the precision of private quotation and efficient latent liquidity aggregation within market microstructure, crucial for optimal capital efficiency.](https://options.greeks.live/wp-content/uploads/2025/07/precision-engineered-institutional-digital-asset-derivatives-rfq-core.jpg)

A systematic method for converting equity holdings and cash reserves into a consistent, engineered stream of income.

- 
### [The Professional Guide to Generating Portfolio Income with Covered Calls](https://options.greeks.live/guide/the-professional-guide-to-generating-portfolio-income-with-covered-calls/)
![A sophisticated system's core component, representing an Execution Management System, drives a precise, luminous RFQ protocol beam. This beam navigates between balanced spheres symbolizing counterparties and intricate market microstructure, facilitating institutional digital asset derivatives trading, optimizing price discovery, and ensuring high-fidelity execution within a prime brokerage framework.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-execution-engine-10.jpg)

Transform your equity holdings into a systematic income engine with professional-grade covered call strategies.

- 
### [The Professional Guide to Income Generation with Covered Calls](https://options.greeks.live/guide/the-professional-guide-to-income-generation-with-covered-calls/)
![An intricate, high-precision mechanism symbolizes an Institutional Digital Asset Derivatives RFQ protocol. Its sleek off-white casing protects the core market microstructure, while the teal-edged component signifies high-fidelity execution and optimal price discovery. A detailed circular dial suggests real-time implied volatility and quantitative analysis for portfolio margin.](https://options.greeks.live/wp-content/uploads/2025/07/precision-engineered-institutional-digital-asset-derivatives-rfq-protocol-high-fidelity-market-microstructure-optimization.jpg)

Transform your portfolio from a passive store of value into an active engine for consistent, engineered income.

- 
### [A Professional’s Guide to Generating Weekly Income with Covered Calls](https://options.greeks.live/guide/a-professionals-guide-to-generating-weekly-income-with-covered-calls/)
![A precise optical sensor within an institutional-grade execution management system, representing a Prime RFQ intelligence layer. This enables high-fidelity execution and price discovery for digital asset derivatives via RFQ protocols, ensuring atomic settlement within market microstructure.](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-high-fidelity-institutional-digital-asset-rfq-execution-system-lens.jpg)

A professional system for generating consistent weekly income by monetizing the assets you already own.

- 
### [The Strategic Investor’s Blueprint for High-Yield Covered Call Writing](https://options.greeks.live/guide/the-strategic-investors-blueprint-for-high-yield-covered-call-writing/)
![A high-precision, dark metallic circular mechanism, representing an institutional-grade RFQ engine. Illuminated segments denote dynamic price discovery and multi-leg spread execution. This core system optimizes capital efficiency and mitigates counterparty risk for digital asset derivatives, ensuring atomic settlement.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-execution-engine-7.jpg)

Transform static holdings into a dynamic income engine with a systematic blueprint for high-yield covered call writing.

- 
### [Generate Consistent Income with This Covered Call Strategy](https://options.greeks.live/guide/generate-consistent-income-with-this-covered-call-strategy/)
![Two diagonal cylindrical elements. The smooth upper mint-green pipe signifies optimized RFQ protocols and private quotation streams. The distressed lower pipe, marked by splatters and cracks, represents market microstructure complexities, reflecting slippage, adverse selection, and transaction costs during high-fidelity execution of institutional digital asset derivatives.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-execution-microstructure-optimization-1.jpg)

Generate consistent income and enhance portfolio yield by transforming your stock holdings into active revenue streams.

---

## Raw Schema Data

```json
{
    "@context": "https://schema.org",
    "@type": "BreadcrumbList",
    "itemListElement": [
        {
            "@type": "ListItem",
            "position": 1,
            "name": "Home",
            "item": "https://options.greeks.live"
        },
        {
            "@type": "ListItem",
            "position": 2,
            "name": "Guide",
            "item": "https://options.greeks.live/guide/"
        },
        {
            "@type": "ListItem",
            "position": 3,
            "name": "The Professional Guide to Weekly Income with Covered Calls",
            "item": "https://options.greeks.live/guide/the-professional-guide-to-weekly-income-with-covered-calls/"
        }
    ]
}
```

```json
{
    "@context": "https://schema.org",
    "@type": "Organization",
    "@id": "https://greeks.live/#organization",
    "name": "Greeks.Live",
    "url": "https://greeks.live/",
    "description": "Greeks.live is the definitive toolkit for the professional options trader, dedicated to empowering our users with institutional-grade data, advanced analytics, and a comprehensive suite of trading tools designed to provide a decisive edge in the market. Every article and guide published under the Greeks.live name is a product of our deep commitment to data-driven analysis and our mission to support the global trading community.",
    "email": "support@greeks.live",
    "logo": {
        "@type": "ImageObject",
        "url": "https://options.greeks.live/wp-content/uploads/2025/07/Greeks.Live-Logo-Icon.svg"
    },
    "hasPart": [
        {
            "@type": "WebSite",
            "name": "About Us",
            "url": "https://about.greeks.live"
        },
        {
            "@type": "WebSite",
            "name": "App Download Page",
            "url": "https://about.greeks.live/#/download/basic_trade"
        },
        {
            "@type": "WebSite",
            "name": "Newcomers' Guide",
            "url": "https://twisty-sign-c8b.notion.site/Guide-for-Greeks-live-X-Deribit-Newbies-5a08a3052822427d800af6eaf3704c8d"
        },
        {
            "@type": "WebSite",
            "name": "Knowledge Base",
            "url": "https://linktr.ee/greeks.live"
        },
        {
            "@type": "WebSite",
            "name": "Option Terminology",
            "url": "https://greekslive.notion.site/88dfc00e7c584d4d8969b6302a79a12f?pvs=4"
        },
        {
            "@type": "WebSite",
            "name": "Terms of Service",
            "url": "https://greeks.live/#/tos"
        },
        {
            "@type": "WebSite",
            "name": "Disclaimer",
            "url": "https://greeks.live/#/disclaimer"
        }
    ],
    "sameAs": [
        "https://x.com/greekslive",
        "https://youtube.com/@greeks_live?si=-KjT0Lkw4WUCI0tD",
        "https://t.me/greekslive_notifications",
        "https://t.me/greekslive",
        "https://pinterest.com/greekslive/"
    ],
    "makesOffer": [
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "RFQ Platform",
                "url": "https://rfq.greeks.live",
                "description": "Execute institutional-grade block trades for crypto options and futures. This platform provides deep, over-the-counter (OTC) liquidity via a professional Request for Quote system.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Lending Tools",
                "url": "https://lend.greeks.live",
                "description": "Manage crypto lending and borrowing activities to earn yield or secure loans. This suite of tools helps users analyze interest rates and manage collateralized debt positions.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Data Lab",
                "url": "https://greeks.live/#/deribit/tools/datalab/BTC",
                "description": "Analyze historical and real-time options data with advanced metrics. This tool is designed for backtesting strategies and identifying market trends through comprehensive data visualization.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Profit & Loss Analysis (PnL)",
                "url": "https://greeks.live/#/deribit/tools/pnl_analysis",
                "description": "Track and analyze the Profit and Loss (PnL) of your options portfolio. This tool provides detailed performance metrics to help traders evaluate and refine their strategies.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Position Visualization",
                "url": "https://greeks.live/#/deribit/tools/pv/BTC",
                "description": "Visualize complex options positions and their corresponding risk profiles. This tool generates payoff diagrams to help traders intuitively understand potential profit, loss, and exposure.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Options Calculator",
                "url": "https://greeks.live/#/deribit/tools/calculator",
                "description": "Calculate the theoretical price and risk parameters ('the Greeks') of crypto options. An essential tool for pricing new trades and analyzing the sensitivity of existing positions.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Greeks.live Main Platform",
                "url": "https://greeks.live/",
                "description": "The central hub for the Greeks.live suite of professional cryptocurrency options and derivatives trading tools. Access analytics, manage positions, and explore the ecosystem.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Community Forum",
                "url": "https://t.greeks.live",
                "description": "Join the official Greeks.live community. Connect with other traders, share insights, and receive the latest updates directly from the team.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Greeks.live for Deribit",
                "url": "http://deribit.greeks.live",
                "description": "A dedicated interface for trading on the Deribit exchange. This platform leverages Greeks.live's advanced analytics and tools specifically for users of Deribit's options and futures markets.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Greeks.live for OKX",
                "url": "http://okx.greeks.live",
                "description": "A dedicated interface for trading on the OKX exchange. This platform integrates Greeks.live's powerful analytics with the OKX marketplace, focusing on its options and derivatives products.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "GLVS.AI Trading Platform",
                "url": "https://www.glvs.ai/",
                "description": "An AI-powered platform for automated crypto options trading. Leverage advanced algorithms and data-driven signals to develop and deploy sophisticated, hands-free trading strategies.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "API Testnet & Sandbox",
                "url": "https://test.greeks.live",
                "description": "A dedicated testnet environment for developers to test their API integrations and automated trading strategies. This sandbox allows for full functionality testing without risking real funds.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        }
    ],
    "subOrganization": [
        {
            "@type": "Organization",
            "name": "GreeksLive HK Co., Limited",
            "email": "support@greeks.live",
            "telephone": "+852-56418949",
            "address": {
                "@type": "PostalAddress",
                "streetAddress": "Unit 11, 27/F, K. Wah Centre, 191 Java Road",
                "addressLocality": "Hong Kong",
                "addressRegion": "North Point",
                "addressCountry": "CN",
                "postalCode": "0000"
            },
            "geo": {
                "@type": "GeoCoordinates",
                "latitude": "22.2932357",
                "longitude": "114.2022026"
            },
            "image": "https://options.greeks.live/wp-content/uploads/2025/08/Wah-Centre-Hong-Kong.jpg"
        }
    ]
}
```

```json
{
    "@context": "https://schema.org",
    "@type": "Article",
    "mainEntityOfPage": {
        "@type": "WebPage",
        "@id": "https://options.greeks.live/guide/the-professional-guide-to-weekly-income-with-covered-calls/"
    },
    "headline": "The Professional Guide to Weekly Income with Covered Calls \u25b4 Guide",
    "description": "The Professional Guide To Weekly Income With Covered Calls: Convert asset volatility into a systematic, weekly cash flow engine. \u25b4 Guide",
    "url": "https://options.greeks.live/guide/the-professional-guide-to-weekly-income-with-covered-calls/",
    "datePublished": "2025-08-08T22:00:47+00:00",
    "dateModified": "2025-08-08T22:01:07+00:00",
    "articleSection": [
        "Guide"
    ],
    "author": {
        "@id": "https://greeks.live/#organization"
    },
    "publisher": {
        "@id": "https://greeks.live/#organization"
    },
    "image": {
        "@type": "ImageObject",
        "url": "https://options.greeks.live/wp-content/uploads/2025/07/prime-os-digital-asset-options-rfq-liquidity-aggregation-interface.jpg",
        "caption": "This abstract rendering depicts a sophisticated institutional-grade platform, highlighting its intelligence layer for digital asset derivatives trading. The central spherical core signifies a dynamic RFQ engine, enabling private quotation and optimal price discovery across diverse liquidity pools. Glowing conduits illustrate high-frequency data flow and smart order routing, crucial for best execution and capital efficiency in multi-leg options strategies. This advanced system minimizes slippage and provides robust pre-trade analytics, ensuring systemic risk mitigation for prime brokerage clients."
    },
    "keywords": [
        "Block Trading",
        "Call Option",
        "Cash Flow",
        "CBOE BXM Index",
        "Covered Call",
        "Covered Call Strategy",
        "Covered Calls",
        "Covered Strangle",
        "Delta",
        "Expiration Date",
        "Implied Volatility",
        "Income Generation",
        "Options RFQ",
        "Options Trading",
        "Portfolio Alpha",
        "Rolling Options",
        "Strike Price",
        "Strike Price Selection",
        "Theta Decay",
        "Time Decay",
        "Underlying Stock",
        "Variance Risk Premium",
        "Weekly Income"
    ]
}
```

```json
{
    "@context": "https://schema.org",
    "@type": "WebSite",
    "url": "https://options.greeks.live/",
    "potentialAction": {
        "@type": "SearchAction",
        "target": "https://options.greeks.live/?s=search_term_string",
        "query-input": "required name=search_term_string"
    }
}
```


---

**Original URL:** https://options.greeks.live/guide/the-professional-guide-to-weekly-income-with-covered-calls/
