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Why GLW Is an Excellent Covered Call Candidate Right Now Strong · 90/100
GLW · $171.24 ·
Analysis generated Apr 13, 2026 ·
Data as of market close Apr 13
Quick Take
GLW is trading at $171.24 with RSI at 69 (neutral territory). Options IV is at 15% — 83% below its 30-day average of 91%. While the stock is extended, IV is below average which means premiums aren't as rich. The trade still works but yields less income than usual.
Technical Signals
RSI (14)
69
IV Today
15.2%
IV vs 30d Avg
-83%
MACD
bullish
ADX
18
MFI
70
The Setup
GLW Covered Call
LONG STOCK
100 shares @ $171.24
SHORT CALL
$185 Jun '26 · $16.12/sh
Net Cost
$15,512
Max Profit
+$2,988
Break-even
$155.12
Projected P&L at Target
+$2,988
(19.3%)
P&L at Expiry
P&L Scenarios
What happens at different GLW prices by expiry:
| GLW Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $137 (-20%) | -$1,813 | -$1,813 | -$1,813 | -$1,813 |
| $146 (-15%) | -$957 | -$957 | -$957 | -$957 |
| $154 (-10%) | -$102 | -$100 | -$100 | -$100 |
| $163 (-5%) | +$737 | +$751 | +$756 | +$756 |
| $168 (-2%) | +$1,215 | +$1,249 | +$1,268 | +$1,270 |
| $171 (0%) ← now | +$1,512 | +$1,564 | +$1,603 | +$1,612 |
| $175 (+2%) | +$1,783 | +$1,857 | +$1,925 | +$1,954 |
| $180 (+5%) | +$2,133 | +$2,235 | +$2,352 | +$2,468 |
| $185 (+8%) ← target | +$2,404 | +$2,521 | +$2,665 | +$2,988 |
| $188 (+10%) | +$2,534 | +$2,651 | +$2,791 | +$2,988 |
| $197 (+15%) | +$2,733 | +$2,827 | +$2,919 | +$2,988 |
| $205 (+20%) | +$2,808 | +$2,875 | +$2,935 | +$2,988 |
Why This Strategy, Why Now
- RSI at 69 — extended, ideal for selling calls
- IV -83% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 18 — range-bound, perfect for selling calls
- No squeeze — no imminent breakout
- MFI at 70 — money flow confirms overbought
Key Risks
GLW 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 GLW approaches the strike before expiry.