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GOOG Covered Call Strategy: Is Now a Good Time to Sell Calls? Moderate · 73/100
Alphabet Inc Class C (Communication Services) · $315.72 ·
Analysis generated Apr 13, 2026 ·
Data as of market close Apr 13
Quick Take
GOOG is trading at $315.72 with RSI at 52 (neutral territory). Options IV is at 0% — 100% below its 30-day average of 48%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
52
IV Today
0%
IV vs 30d Avg
-100%
MACD
bullish
ADX
26
MFI
33
The Setup
GOOG Covered Call
LONG STOCK
100 shares @ $315.72
SHORT CALL
$340 Jun '26 · $9.27/sh
Net Cost
$30,645
Max Profit
+$3,355
Break-even
$306.45
Projected P&L at Target
+$3,355
(10.9%)
P&L at Expiry
P&L Scenarios
What happens at different GOOG prices by expiry:
| GOOG Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $253 (-20%) | -$5,387 | -$5,387 | -$5,387 | -$5,387 |
| $268 (-15%) | -$3,809 | -$3,809 | -$3,809 | -$3,809 |
| $284 (-10%) | -$2,230 | -$2,230 | -$2,230 | -$2,230 |
| $300 (-5%) | -$652 | -$652 | -$652 | -$652 |
| $309 (-2%) | +$294 | +$296 | +$296 | +$296 |
| $316 (0%) ← now | +$915 | +$925 | +$927 | +$927 |
| $322 (+2%) | +$1,511 | +$1,542 | +$1,557 | +$1,558 |
| $332 (+5%) | +$2,278 | +$2,372 | +$2,461 | +$2,506 |
| $340 (+8%) ← target | +$2,739 | +$2,874 | +$3,032 | +$3,355 |
| $347 (+10%) | +$2,949 | +$3,079 | +$3,220 | +$3,355 |
| $363 (+15%) | +$3,069 | +$3,165 | +$3,259 | +$3,355 |
| $379 (+20%) | +$3,075 | +$3,167 | +$3,259 | +$3,355 |
Why This Strategy, Why Now
- RSI at 52 — neutral-bullish
- IV -100% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 26 — moderate trend
- No squeeze — no imminent breakout
Key Risks
GOOG 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 GOOG approaches the strike before expiry.
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.