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Why GOOGL Is an Excellent Covered Call Candidate Right Now Strong · 80/100
Alphabet Inc Class A (Communication Services) · $317.24 ·
Analysis generated Apr 13, 2026 ·
Data as of market close Apr 13
Quick Take
GOOGL is trading at $317.24 with RSI at 61 (neutral territory). Options IV is at 0% — 100% below its 30-day average of 49%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
61
IV Today
0%
IV vs 30d Avg
-100%
MACD
bullish
ADX
25
MFI
48
The Setup
GOOGL Covered Call
LONG STOCK
100 shares @ $317.24
SHORT CALL
$345 Jun '26 · $8.55/sh
Net Cost
$30,869
Max Profit
+$3,631
Break-even
$308.69
Projected P&L at Target
+$3,631
(11.8%)
P&L at Expiry
P&L Scenarios
What happens at different GOOGL prices by expiry:
| GOOGL Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $254 (-20%) | -$5,490 | -$5,490 | -$5,490 | -$5,490 |
| $270 (-15%) | -$3,904 | -$3,904 | -$3,904 | -$3,904 |
| $286 (-10%) | -$2,317 | -$2,317 | -$2,317 | -$2,317 |
| $301 (-5%) | -$731 | -$731 | -$731 | -$731 |
| $311 (-2%) | +$220 | +$221 | +$221 | +$221 |
| $317 (0%) ← now | +$848 | +$854 | +$855 | +$855 |
| $324 (+2%) | +$1,460 | +$1,481 | +$1,489 | +$1,489 |
| $333 (+5%) | +$2,285 | +$2,361 | +$2,423 | +$2,441 |
| $345 (+9%) ← target | +$2,989 | +$3,129 | +$3,293 | +$3,631 |
| $349 (+10%) | +$3,124 | +$3,265 | +$3,427 | +$3,631 |
| $365 (+15%) | +$3,329 | +$3,434 | +$3,533 | +$3,631 |
| $381 (+20%) | +$3,347 | +$3,440 | +$3,533 | +$3,631 |
Why This Strategy, Why Now
- RSI at 61 — extended, ideal for selling calls
- IV -100% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 25 — moderate trend
- No squeeze — no imminent breakout
Key Risks
GOOGL 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 GOOGL approaches the strike before expiry.