Best Options Strategy for CLX
Looking for the best options strategy for The Clorox Company (CLX)? There is no single answer — the right play depends on your outlook, your risk tolerance and current implied volatility. Below, our free engine shows the highest-scoring defined-risk strategy on the live CLX option chain right now, and a simple map from your view on CLX to the strategy that fits it. Model any of them in the calculator before you trade.
About CLX
The Clorox Company (CLX) is a major company in Household & Personal Products. Options traders on CLX tend to watch , since these can drive large moves in the share price.
About The Clorox Company
# About The Clorox Company
Clorox manufactures and sells consumer and professional cleaning, household, and food products across four operating segments. The Health and Wellness division produces disinfecting cleaners, bleach, drain openers, and laundry additives marketed under names like Clorox, Pine-Sol, and Liquid-Plumr, alongside professional-grade cleaning solutions for businesses and healthcare facilities. The Household segment covers cat litter brands (Fresh Step, Scoop Away), plastic bags and wraps (Glad), and charcoal grilling products (Kingsford). Its Lifestyle business includes salad dressings and condiments primarily sold under the Hidden Valley brand, water filtration systems (Brita), and natural personal care items (Burt's Bees). A fourth segment handles international operations, extending these product lines and adding vitamins and supplements (Natural Vitality, RenewLife) to markets outside the U.S.
The company generates revenue by distributing its brands through multiple retail channels: supermarkets, warehouse clubs, dollar stores, hardware retailers, drugstores, and pet supply shops, as well as direct-to-consumer e-commerce platforms. Clorox operates at…
Today's top-scoring strategy for CLX
Our engine ranks defined-risk strategies on the live CLX chain by probability of profit and risk/reward, then surfaces the best-scoring one. It is an educational illustration, not advice.
| Action | Qty | Type | Strike | Premium |
|---|---|---|---|---|
| Buy | 1× | PUT | $85 | $0.10 |
| Sell | 1× | PUT | $105 | $3.60 |
| Sell | 1× | CALL | $105 | $3.95 |
| Buy | 1× | CALL | $125 | $0.20 |
Simulation
Forward simulation of 6,000 lognormal price paths to expiration — not a historical backtest.
Strategy analysis
Greeks vs price
Price × volatility (today)
| −30% | −15% | IV | +15% | +30% | |
|---|---|---|---|---|---|
| $131 | −$1,169 | −$1,115 | −$1,059 | −$1,007 | −$961 |
| $126 | −$1,002 | −$939 | −$883 | −$837 | −$802 |
| $121 | −$711 | −$669 | −$639 | −$621 | −$613 |
| $116 | −$328 | −$341 | −$363 | −$390 | −$421 |
| $110 | $29 | −$51 | −$129 | −$203 | −$272 |
| $105 | $188 | $76 | −$29 | −$125 | −$213 |
| $100 | $43 | −$39 | −$122 | −$202 | −$277 |
| $95 | −$340 | −$360 | −$388 | −$421 | −$457 |
| $89 | −$780 | −$750 | −$727 | −$712 | −$705 |
| $84 | −$1,105 | −$1,060 | −$1,017 | −$979 | −$948 |
| $79 | −$1,245 | −$1,220 | −$1,190 | −$1,158 | −$1,127 |
Live scan from 2026-08-14 · quotes delayed ~15 minutes
Historical backtest: how a Iron Butterfly on CLX would have performed
We approximated a Iron Butterfly on CLX, entered repeatedly over the past year (92 historical entries, each held to expiration) with Black-Scholes-modelled entry premiums. Here is how that would have played out on real CLX price history — an educational backtest, not a prediction of future returns.
Approximate: entry premiums are modelled with Black-Scholes from trailing realised volatility, held to expiration and settled against the real historical close. Real fills, implied volatility and slippage differ — treat it as directional context, not exact returns.
Implied volatility
CLX is currently trading with moderate implied volatility, broadly in line with other large-cap stocks. On the options we scanned that was around 30% implied volatility, and higher implied volatility means richer premiums and wider expected moves.
Options on CLX currently price in about 30% implied volatility, versus roughly 34% the stock has actually realised over the past month. The two are roughly in line, so neither buying nor selling premium has a clear volatility edge here.
CLX's IV Rank is 4/100: implied volatility sits 4% of the way between its 25-day low (29%) and high (45%), and is above 8% of recorded days. Premium is historically cheap, which favours net-debit strategies like long options and debit spreads.
Off that volatility, the options market is pricing a move of about ±$9.64 (±9%) in CLX by 2026-09-18 — a range of roughly $95.37 to $115. Strikes inside that band hold most of the premium and see most of the action.
Across strikes, puts and calls on CLX carry a fairly symmetric implied volatility — no strong directional fear is priced in either way.
CLX options chain highlights: open interest, volume and skew
The live CLX options chain shows a put/call open-interest ratio of 1.82 (bearish-leaning (more puts)), with at-the-money implied volatility near 29.7%. Open interest clusters at the $110 call — a common resistance "wall" — and the $95 put, a support "wall": the strikes option writers are most exposed to into expiration.
Snapshot of open interest, volume and implied volatility for the nearest scanned expiration — context, not a trading signal.
CLX insider trading activity (SEC Form 4)
Open-market insider transactions at CLX over roughly the last six months, from SEC Form 4 filings. Open-market buys are the rarer, more telling signal — routine selling under pre-arranged plans is common, so read a net-selling figure with that in mind.
| Insider | Action | Shares | Value | Date |
|---|---|---|---|---|
| Breber Pierre R | Buy | 5,000 | $429K | 2026-05-05 |
Source: SEC Form 4 filings via Finnhub. Open-market purchases (P) and sales (S) only — grants, option exercises, gifts and tax withholding are excluded. Informational context, not investment advice.
Liquidity and tradeability
CLX options are reasonably liquid, with bid-ask spreads around 7.8% near the money. Defined-risk spreads and condors are workable; use limit orders and watch the fill on wider multi-leg trades.
Earnings & IV crush
CLX's next earnings report is due around November 3, 2026. Options that expire after it price in a binary move, so their implied volatility is elevated and usually collapses right after the announcement — an "IV crush". If your expiration falls before this date, the trade sidesteps the event.
Dividend and assignment risk
CLX pays a dividend of about 4.8% a year, so short or covered calls on it carry early-assignment risk around each ex-dividend date — in-the-money calls are most exposed just before the stock goes ex-dividend.
Key figures
- Market cap
- $12.7B
- Beta (vs market)
- 0.54
- 52-week range
- $84.70–$128.90 (46% up the range)
- Short interest
- 11.1% of float · 4.6 days to cover
With 11.1% of CLX's float sold short, squeeze and gap risk are elevated — one reason its options can stay expensive.
Other strong setups for CLX
If your view on CLX differs, these also scored well in the latest scan:
How to choose an options strategy for CLX
Start with your outlook on CLX, then match it to a defined-risk structure. Here are the most common choices and when each makes sense:
Bullish
Buy a call for leverage with capped risk, or a bull call spread to lower the cost and breakeven when you have a target price.
Long Call → Bull Call Spread →Bearish
Buy a put to profit from a decline with defined risk, or a bear put spread to cheapen the trade when you expect a measured move down.
Long Put → Bear Put Spread →Neutral
Sell an iron condor to collect premium while CLX stays between two strikes, or write a covered call against shares you already own.
Iron Condor → Covered Call →⧉ Embed this free calculator on your site →
How we pick the best strategy
For each ticker we pull the live option chain, build every supported strategy around the at-the-money strikes, and score them on probability of profit, risk/reward and capital efficiency — favouring defined-risk structures where the maximum loss is known up front. Methodology →
Open CLX in the free calculator →
Frequently asked questions
What is the best options strategy for CLX?
It depends on your outlook. Bullish traders often use a long call or bull call spread on CLX; bearish traders a long put or bear put spread; neutral traders an iron condor or covered call. Our live scan above shows the current highest-scoring defined-risk play.
Are CLX options liquid enough to trade?
The Clorox Company (CLX) is among the most actively-traded US options, which usually means tight bid/ask spreads and plenty of strikes and expirations — though you should always check the open interest and spread on the exact contract.
How much money do I need to trade CLX options?
Buying a single CLX call or put can cost as little as the premium (often one to a few hundred dollars), while income strategies like a cash-secured put need enough capital to buy 100 shares if assigned.
Is this financial advice?
No. Everything here is educational and uses delayed, third-party data. It is not a recommendation to trade CLX or any security. Do your own research.
What does The Clorox Company do?
The Clorox Company (CLX) operates in the Household & Personal Products industry. The "About The Clorox Company" section above gives a fuller picture of what the company does and how it earns money.
Does The Clorox Company pay a dividend?
Yes — The Clorox Company currently pays a dividend yielding about 4.8%. If you hold the shares (for example to write a covered call), the ex-dividend date can trigger early assignment, so check it beforehand.
When does The Clorox Company next report earnings?
The Clorox Company's next earnings are expected around November 3, 2026. Implied volatility usually climbs into the report and drops sharply afterwards (IV crush) — important for any options position held over the date.
Price trend
Tickers related to CLX
Comparing CLX with similar names can help you choose the best options strategy:
Company information
- Headquarters
- 1221 Broadway, Oakland, CA, 94612-1888, United States
- Industry
- Household & Personal Products
- CEO
- Ms. Linda J. Rendle
- Phone
- 510 271 7000
- Website
- www.thecloroxcompany.com
- Investor relations
- investors.thecloroxcompany.com
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