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BL Covered Call Analysis: Proceed With Caution Weak · 30/100
BL · $30.29 ·
Analysis generated Apr 10, 2026 ·
Data as of market close Apr 10
· Market closed — data may be from last trading day
This strategy is NOT recommended for BL right now
Score 30/100. The technical signals do not support selling covered calls on BL at this time.
RSI at 26 — oversold, not ideal for selling calls. IV -52% vs avg — premiums below average, less income. MACD bearish — stock may keep falling (risk).
Check back when conditions improve, or consider a different strategy.
Quick Take
BL is trading at $30.29 with RSI at 26 (oversold territory). Options IV is at 48% — 52% below its 30-day average of 100%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
26
IV Today
48.3%
IV vs 30d Avg
-52%
MACD
bearish
ADX
26
MFI
34
The Setup
BL Covered Call
LONG STOCK
100 shares @ $30.29
SHORT CALL
$33 Jun '26 · $2.34/sh
Net Cost
$2,795
Max Profit
+$505
Break-even
$27.95
Projected P&L at Target
+$505
(18.1%)
P&L at Expiry
P&L Scenarios
What happens at different BL prices by expiry:
| BL Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $24 (-20%) | -$424 | -$397 | -$377 | -$372 |
| $26 (-15%) | -$302 | -$266 | -$233 | -$220 |
| $27 (-10%) | -$191 | -$145 | -$97 | -$69 |
| $29 (-5%) | -$89 | -$35 | +$28 | +$83 |
| $30 (-2%) | -$35 | +$24 | +$95 | +$173 |
| $30 (0%) ← now | +$0 | +$62 | +$137 | +$234 |
| $31 (+2%) | +$34 | +$97 | +$177 | +$295 |
| $32 (+5%) | +$79 | +$145 | +$230 | +$385 |
| $33 (+9%) ← target | +$135 | +$203 | +$290 | +$505 |
| $33 (+10%) | +$148 | +$217 | +$305 | +$505 |
| $35 (+15%) | +$207 | +$276 | +$363 | +$505 |
| $36 (+20%) | +$257 | +$324 | +$406 | +$505 |
Why This Strategy, Why Now
- RSI at 26 — oversold, not ideal for selling calls
- IV -52% vs avg — premiums below average, less income
- MACD bearish — stock may keep falling (risk)
- ADX at 26 — moderate trend
- No squeeze — no imminent breakout
Key Risks
ADX at 26 indicates a moderately strong trend. In trending markets, covered calls cap your upside too early. Use a higher strike to leave more room.