Caseys General Stores, Inc. (CASY) Covered Calls

Caseys General Stores, Inc. covered calls Casey’s General Stores, Inc. is a leading convenience store operator and the fifth-largest pizza chain in the U.S. By 2026, the company has successfully expanded its footprint to 2,900 stores across 20 states, driven by the massive acquisition of CEFCO. Under CEO Darren Rebelez, Casey’s leverages its "rural fortress" strategy, dominating small-town markets where it serves as a primary source of both fuel and high-quality prepared foods.

You can sell covered calls on Caseys General Stores, Inc. to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for CASY (prices last updated Fri 4:16 PM ET):

Caseys General Stores, Inc. (CASY) Stock Quote
Last Change Bid Ask Volume P/E Market Cap
665.86 +1.98 665.87 665.99 307K 41 25
Covered Calls For Caseys General Stores, Inc. (CASY)
Expiration Strike Call Bid Net Debit Return
If Flat		 Annualized
Return If Flat
Feb 20 670 6.80 659.19 1.0% 45.6%
Mar 20 670 27.10 638.89 4.2% 42.6%
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Core Business and Products

Casey’s operates a unique business model that blends convenience retail with a high-margin quick-service restaurant (QSR) operation. In 2026, prepared food remains the core differentiator, with inside gross margins reaching a record 41.5%. Their primary segments include:

  1. Prepared Food and Dispensed Beverages: The company’s flagship segment, famous for its made-from-scratch pizza, breakfast burritos, and specialty sandwiches. In 2026, the company is scaling its "thin crust" and "private label" food programs across its new Texas and Florida locations.
  2. Grocery and General Merchandise: Provides a wide array of snacks, beverages, and household essentials. This segment has benefited in 2026 from the expansion of the "Casey’s Rewards" program, which now boasts over 9.5 million active members.
  3. Fuel: A critical foot-traffic driver. Casey’s maintains vertical integration through its own tanker fleet, which delivers approximately 60% of its fuel. In 2026, the company is focused on maintaining stable fuel margins despite Midcontinent price volatility.
  4. Direct Store Delivery & Distribution: Utilizing three company-owned distribution centers, Casey’s manages its own supply chain, ensuring high product availability and consistent quality across its 14-state core territory.

Competitive Landscape

Casey’s occupies a distinct niche, competing against both national convenience chains and regional grocers. Its primary rivals in the convenience and fuel space with liquid options include Murphy USA and FEMSA (parent of OXXO). In the broader retail and value space, it competes with Walmart and Kroger. Within the QSR space, its pizza business rivals national players like Domino's Pizza. While global giants like 7-Eleven have a larger total footprint, Casey’s dominance in towns with populations under 5,000 creates a competitive "rural moat" that is difficult for urban-focused retailers to penetrate.

Strategic Outlook and Innovation

The 2026 strategic roadmap for Casey’s is defined by "The 500-Store Push." Following its record-breaking 2025 growth, the company is on track to add 80 new stores in fiscal 2026, primarily through the rebranding of acquired CEFCO locations in the South. Innovation is driven by **AI-Powered Kitchen Management**, which optimizes pizza prep times and reduces food waste across its 2,900-store network. A major 2026 milestone is the expected 15-17% EBITDA growth, significantly outperforming its original three-year plan. Financially, the company remains a "dividend aristocrat in the making," marking 26 consecutive years of dividend increases in early 2026. With a robust share buyback program and a focus on "pure-play" convenience, Casey’s is positioned as a premier defensive growth stock for investors seeking stable cash flows and exposure to the resilient Midwest and Southern consumer markets.