On October 28, 2025, new options popped up for Plains All American Pipeline LP. Symbol: PAA. These were for the December 5th expiration. Something called the YieldBoost formula spotted an intriguing call contract.

This call? It's at the $19.50 strike price. Current bid: 10 cents. Imagine buying PAA shares now at $19.12. Then selling this call as a covered call. You'd be agreeing to sell at $19.50.

Factor in the premium. It seems you'd get a 2.51% return if the stock's called away on December 5th. That's before dividends and commissions, mind you.

But here's the thing. PAA shares could skyrocket. Who knows? It's kind of surprising, but the $19.50 strike is only about 2% above the current price.

What if the call expires worthless? You keep your shares and the premium. Apparently, there's a 48% chance of this happening. Not entirely clear how they calculate that.

The implied volatility here is 45%. Real volatility over the past year? Just 25%.

For folks into Plains All American Pipeline and its internet stuff, this options action might be worth a look. Could tell you something about market vibes.