We study different operator radii of homomorphisms from an operator algebra into B(H) and show that these can be computed explicitly in terms of the usual norm. As an application, we show that if normalΩ is a K‐spectral set for a Hilbert space operator, then it is an M‐numerical radius set, where M=12false(K+K−1false). This is a counterpart of a recent result of Davidson, Paulsen and Woerdeman. More general results for operator radii associated with the class of operators having ρ‐dilations in the sense of Sz.‐Nagy and Foiaş are given. A version of a result of Drury concerning the joint numerical radius of non‐commuting n‐tuples of operators is also obtained.