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BKNG Covered Call Analysis: Proceed With Caution Weak · 15/100
Booking Holdings Inc (Consumer Cyclical) · $173.46 ·
Analysis generated Apr 13, 2026 ·
Data as of market close Apr 13
This strategy is NOT recommended for BKNG right now
Score 15/100. The technical signals do not support selling covered calls on BKNG at this time.
RSI at 9 — oversold, not ideal for selling calls. IV -65% vs avg — premiums below average, less income. MACD bearish — stock may keep falling (risk). ADX at 40 — strong trend, stock may run past strike.
Check back when conditions improve, or consider a different strategy.
Quick Take
BKNG is trading at $173.46 with RSI at 9 (oversold territory). Options IV is at 26% — 65% below its 30-day average of 74%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
9
IV Today
26.0%
IV vs 30d Avg
-65%
MACD
bearish
ADX
40
MFI
33
The Setup
BKNG Covered Call
LONG STOCK
100 shares @ $173.46
SHORT CALL
$185 Jun '26 · $7.01/sh
Net Cost
$16,645
Max Profit
+$1,855
Break-even
$166.45
Projected P&L at Target
+$1,855
(11.1%)
P&L at Expiry
P&L Scenarios
What happens at different BKNG prices by expiry:
| BKNG Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $139 (-20%) | -$2,927 | -$2,835 | -$2,777 | -$2,768 |
| $147 (-15%) | -$2,190 | -$2,049 | -$1,933 | -$1,901 |
| $156 (-10%) | -$1,515 | -$1,320 | -$1,128 | -$1,034 |
| $165 (-5%) | -$911 | -$668 | -$391 | -$166 |
| $170 (-2%) | -$587 | -$318 | +$3 | +$354 |
| $173 (0%) ← now | -$386 | -$104 | +$243 | +$701 |
| $177 (+2%) | -$198 | +$95 | +$463 | +$1,048 |
| $182 (+5%) | +$60 | +$366 | +$755 | +$1,568 |
| $185 (+7%) ← target | +$191 | +$501 | +$895 | +$1,855 |
| $191 (+10%) | +$432 | +$743 | +$1,138 | +$1,855 |
| $199 (+15%) | +$733 | +$1,036 | +$1,404 | +$1,855 |
| $208 (+20%) | +$973 | +$1,255 | +$1,577 | +$1,855 |
Why This Strategy, Why Now
- RSI at 9 — oversold, not ideal for selling calls
- IV -65% vs avg — premiums below average, less income
- MACD bearish — stock may keep falling (risk)
- ADX at 40 — strong trend, stock may run past strike
- No squeeze — no imminent breakout
Key Risks
ADX at 40 indicates a moderately strong trend. In trending markets, covered calls cap your upside too early. Use a higher strike to leave more room.