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ADBE Covered Call Analysis: Proceed With Caution Weak · 35/100
Adobe Systems Incorporated (Technology) · $225.35 ·
Analysis generated Apr 13, 2026 ·
Data as of market close Apr 13
This strategy is NOT recommended for ADBE right now
Score 35/100. The technical signals do not support selling covered calls on ADBE at this time.
RSI at 31 — oversold, not ideal for selling calls. IV -28% vs avg — premiums below average, less income. ADX at 39 — strong trend, stock may run past strike.
Check back when conditions improve, or consider a different strategy.
Quick Take
ADBE is trading at $225.35 with RSI at 31 (oversold territory). Options IV is at 42% — 28% below its 30-day average of 59%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
31
IV Today
42.5%
IV vs 30d Avg
-28%
MACD
bullish
ADX
39
MFI
44
The Setup
ADBE Covered Call
LONG STOCK
100 shares @ $225.35
SHORT CALL
$245 Jun '26 · $10.38/sh
Net Cost
$21,497
Max Profit
+$3,003
Break-even
$214.97
Projected P&L at Target
+$3,003
(14.0%)
P&L at Expiry
P&L Scenarios
What happens at different ADBE prices by expiry:
| ADBE Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $180 (-20%) | -$3,575 | -$3,505 | -$3,472 | -$3,469 |
| $192 (-15%) | -$2,559 | -$2,437 | -$2,356 | -$2,342 |
| $203 (-10%) | -$1,616 | -$1,429 | -$1,268 | -$1,216 |
| $214 (-5%) | -$763 | -$508 | -$243 | -$89 |
| $221 (-2%) | -$301 | -$9 | +$321 | +$587 |
| $225 (0%) ← now | -$14 | +$300 | +$669 | +$1,038 |
| $230 (+2%) | +$255 | +$587 | +$992 | +$1,489 |
| $237 (+5%) | +$624 | +$978 | +$1,423 | +$2,165 |
| $245 (+9%) ← target | +$1,026 | +$1,395 | +$1,866 | +$3,003 |
| $248 (+10%) | +$1,151 | +$1,522 | +$1,995 | +$3,003 |
| $259 (+15%) | +$1,575 | +$1,940 | +$2,391 | +$3,003 |
| $270 (+20%) | +$1,907 | +$2,248 | +$2,642 | +$3,003 |
Why This Strategy, Why Now
- RSI at 31 — oversold, not ideal for selling calls
- IV -28% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 39 — strong trend, stock may run past strike
- No squeeze — no imminent breakout
Key Risks
ADBE 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 ADBE approaches the strike before expiry.
ADX at 39 indicates a moderately strong trend. In trending markets, covered calls cap your upside too early. Use a higher strike to leave more room.