Ruben Jatel 2025-12-22 Ruben Jatel 2025-12-22

Top 5 Canadian Covered Calls for January 2026

Top 5 Canadian Covered Calls – January 2026 (Jan 16 Expiry): ROO %, Strikes & Key Risks | Optrader.ca

Canadian Covered Calls • Monthly Options • TSX

Top 5 Canadian Covered Calls — January 2026 (Expires Fri, Jan 16)

Heads-up: This is a point-in-time snapshot generated on Dec 22, 2025 for the Jan 16, 2026 expiry (3rd Friday). Prices, ROO %, strikes, OI, delta, and sentiment can change quickly. Refresh anytime in the free screener: demo.optrader.ca.

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For the January 16, 2026 expiry, we ranked candidates by January seasonality win rate (where available), then validated each pick using ROO %, delta, Scouter Score, liquidity (OI), and sentiment. To keep this list diversified, we limited it to only two resource-based names. Below are the five strongest January setups from that screen: OR, FNV, AC, NTR, and BAM.

What the Metrics Mean

ROO % (Return on Option): premium yield for this expiry window (not annualized).
Δ (Delta): proxy for assignment odds and price sensitivity (−1 to +1).
OI (Open Interest): active contracts at the chosen strike — higher values generally mean better liquidity and tighter fills.
Scouter Score (1–10): composite rank blending fundamentals, technicals, liquidity, and stability.
News Sentiment (−1 to +1): recent media tone (higher = more positive).
Seasonality: January win rate and average return to the same 3rd-Friday expiry historically (when available).

Metrics are provided for information only and may be delayed or incomplete. Always verify with your broker and refresh in the screener before trading.

January 2026 Top 5 (Win Rate Ranked, Max 2 Resource Names)

#1
OR.TO – OR Royalties Inc Resource
Snapshot: Price 51.56 · ROO 2.45% · Strike 54 · OI 8,014 · Δ 0.32 · Scouter 8 · Sentiment 0.3942
Seasonality (Jan): Win Rate 72.7% · Avg Return 4.84% · Samples 11
Positive: Royalty model can dampen operational risk; strong liquidity supports rolling/defense.
Key Risk: Still tied to gold sentiment—sharp commodity moves can push through your strike quickly.
#2
FNV.TO – Franco-Nevada Corporation Resource
Snapshot: Price 297.86 · ROO 3.12% · Strike 300 · OI 172 · Δ 0.48 · Scouter 9 · Sentiment 0.1544
Seasonality (Jan): Win Rate 61.1% · Avg Return 4.85% · Samples 18
Positive: High Scouter Score and historically strong January performance; attractive premium yield.
Key Risk: Higher delta increases assignment odds if gold rallies hard (consider a higher strike if you want more upside room).
#3
AC.TO – Air Canada
Snapshot: Price 19.83 · ROO 2.23% · Strike 20 · OI 2,155 · Δ 0.49 · Scouter 5 · Sentiment 0.0806
Seasonality (Jan): Win Rate 46.7% · Avg Return 2.77% · Samples 15
Positive: Strong options liquidity; practical for active management (rolls/defense) into expiry.
Key Risk: Earnings/travel demand + fuel/FX sensitivity can trigger sudden gaps—manage sizing and strike distance.
#4
NTR.TO – Nutrien Ltd
Snapshot: Price 86.09 · ROO 2.18% · Strike 86 · OI 643 · Δ 0.52 · Scouter 7 · Sentiment 0.3355
Seasonality (Jan): Win Rate N/A · Avg Return N/A · Samples N/A
Positive: Balanced ROO % and decent liquidity for the strike; fits income-focused call writing.
Key Risk: Fertilizer pricing and macro/ag cycles can swing quickly—avoid selling calls into major catalysts if you want less gap risk.
#5
BAM.TO – Brookfield Asset Management
Snapshot: Price 72.97 · ROO 2.05% · Strike 74 · OI 192 · Δ 0.46 · Scouter 5 · Sentiment 0.1594
Seasonality (Jan): Win Rate N/A · Avg Return N/A · Samples N/A
Positive: Quality franchise with a clear options chain; reasonable ROO % for the window.
Key Risk: Broader market selloffs and credit/spread headlines can pressure asset managers—monitor macro risk and volatility spikes.

How to Use This Shortlist

Re-check the current expiry, earnings timing, and option liquidity before placing a trade.
Choose strike distance based on assignment preference: lower delta (more upside room) vs higher delta (more premium, higher assignment odds).
Use Scouter + sentiment as a quick quality check, then confirm with your own thesis.
Refresh numbers anytime: demo.optrader.ca (or Pro: app.optrader.ca).

What to Do Now

Open the screener and load the Jan 16, 2026 expiry.
Try a starter filter set: ROO 2–4%, delta around 0.25–0.45, OI ≥ 100 (loosen for higher-priced names if needed).
Sort by Scouter Score, then cross-check sentiment + January seasonality (when available).
Pick strikes based on risk tolerance: more conservative (lower delta) vs more premium (higher delta).

Always refresh data before trading; this article is a static snapshot.

FAQ

How were these picks selected?
Ranked by January win rate (where available), then validated using ROO %, delta, Scouter Score, sentiment, and OI for the Jan 16, 2026 expiry — with a cap of two resource-based stocks.

What does ROO % mean?
ROO % is the premium yield for this expiry window (not annualized).

Why do some picks show “N/A” for seasonality?
The seasonality snapshot in that run only included January win-rate stats for a subset of symbols. You can rebuild/expand this using the historical module.

Can I rebuild this list?
Yes — refresh instantly in the Canadian screener: demo.optrader.ca (or Pro: app.optrader.ca).

Risk Disclosure: OpTrader is for informational and educational purposes only and does not provide financial, investment, tax, or legal advice. Options involve risk and may not be suitable for all investors. This list is a point-in-time snapshot; metrics and even picks may be outdated. Always verify data, review earnings/catalysts, and consider speaking with a licensed financial advisor who understands your objectives and risk tolerance.

🔍 Refresh in the Free Canadian Options Screener

Updated: January 2026