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Why CRDO Is an Excellent Covered Call Candidate Right Now Strong · 88/100
CRDO · $119.59 ·
Analysis generated Apr 10, 2026 ·
Data as of market close Apr 10
· Market closed — data may be from last trading day
Quick Take
CRDO is trading at $119.59 with RSI at 60 (neutral territory). Options IV is at 95% — 13% below its 30-day average of 108%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
60
IV Today
94.7%
IV vs 30d Avg
-13%
MACD
bullish
ADX
16
MFI
66
The Setup
CRDO Covered Call
LONG STOCK
100 shares @ $119.59
SHORT CALL
$130 Jun '26 · $11.3/sh
Net Cost
$10,829
Max Profit
+$2,171
Break-even
$108.29
Projected P&L at Target
+$2,171
(20.0%)
P&L at Expiry
P&L Scenarios
What happens at different CRDO prices by expiry:
| CRDO Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $96 (-20%) | -$1,777 | -$1,567 | -$1,360 | -$1,262 |
| $102 (-15%) | -$1,361 | -$1,111 | -$841 | -$664 |
| $108 (-10%) | -$978 | -$693 | -$362 | -$66 |
| $114 (-5%) | -$628 | -$313 | +$72 | +$532 |
| $117 (-2%) | -$434 | -$104 | +$309 | +$891 |
| $120 (0%) ← now | -$311 | +$27 | +$456 | +$1,130 |
| $122 (+2%) | -$194 | +$153 | +$595 | +$1,369 |
| $126 (+5%) | -$26 | +$330 | +$789 | +$1,728 |
| $130 (+9%) ← target | +$166 | +$531 | +$1,002 | +$2,171 |
| $132 (+10%) | +$230 | +$596 | +$1,070 | +$2,171 |
| $138 (+15%) | +$458 | +$829 | +$1,304 | +$2,171 |
| $144 (+20%) | +$661 | +$1,030 | +$1,494 | +$2,171 |
Why This Strategy, Why Now
- RSI at 60 — neutral-bullish
- IV -13% vs avg — premiums near average, acceptable
- MACD bullish — stock has upward momentum
- ADX at 16 — range-bound, perfect for selling calls
- No squeeze — no imminent breakout
Key Risks
CRDO 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 CRDO approaches the strike before expiry.