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AAPL Covered Call Strategy: Is Now a Good Time to Sell Calls? Moderate · 63/100
Apple Inc (Technology) · $260.48 ·
Analysis generated Apr 13, 2026 ·
Data as of market close Apr 13
Quick Take
AAPL is trading at $260.48 with RSI at 55 (neutral territory). Options IV is at 26% — 41% below its 30-day average of 44%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
55
IV Today
26.3%
IV vs 30d Avg
-41%
MACD
bullish
ADX
19
MFI
48
The Setup
AAPL Covered Call
LONG STOCK
100 shares @ $260.48
SHORT CALL
$280 Jun '26 · $4.57/sh
Net Cost
$25,591
Max Profit
+$2,409
Break-even
$255.91
Projected P&L at Target
+$2,409
(9.4%)
P&L at Expiry
P&L Scenarios
What happens at different AAPL prices by expiry:
| AAPL Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $208 (-20%) | -$4,765 | -$4,755 | -$4,753 | -$4,753 |
| $221 (-15%) | -$3,496 | -$3,462 | -$3,450 | -$3,450 |
| $234 (-10%) | -$2,283 | -$2,202 | -$2,154 | -$2,148 |
| $247 (-5%) | -$1,171 | -$1,018 | -$887 | -$845 |
| $255 (-2%) | -$574 | -$375 | -$173 | -$64 |
| $260 (0%) ← now | -$210 | +$18 | +$269 | +$457 |
| $266 (+2%) | +$125 | +$377 | +$674 | +$978 |
| $274 (+5%) | +$568 | +$848 | +$1,195 | +$1,759 |
| $280 (+7%) ← target | +$884 | +$1,175 | +$1,542 | +$2,409 |
| $287 (+10%) | +$1,153 | +$1,445 | +$1,809 | +$2,409 |
| $300 (+15%) | +$1,562 | +$1,829 | +$2,133 | +$2,409 |
| $313 (+20%) | +$1,828 | +$2,050 | +$2,269 | +$2,409 |
Why This Strategy, Why Now
- RSI at 55 — neutral-bullish
- IV -41% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 19 — range-bound, perfect for selling calls
- TTM Squeeze ON — breakout imminent, risky for capped strategies
Key Risks
AAPL has bullish momentum (MACD). If a positive catalyst emerges (earnings beat, product launch), the stock could gap past your strike. Consider rolling the call up if AAPL approaches the strike before expiry.
TTM Squeeze is ON — a volatility breakout may be imminent. If the breakout is to the upside, your short call will be tested quickly.