← Best Covered Calls
/ QBTS
QBTS Covered Call Analysis: Proceed With Caution Weak · 35/100
QBTS · $14.25 ·
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 QBTS right now
Score 35/100. The technical signals do not support selling covered calls on QBTS at this time.
RSI at 39 — oversold, not ideal for selling calls. IV -34% vs avg — premiums below average, less income. ADX at 30 — strong trend, stock may run past strike.
Check back when conditions improve, or consider a different strategy.
Quick Take
QBTS is trading at $14.25 with RSI at 39 (oversold territory). Options IV is at 76% — 34% below its 30-day average of 115%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
39
IV Today
75.6%
IV vs 30d Avg
-34%
MACD
bullish
ADX
30
MFI
51
The Setup
QBTS Covered Call
LONG STOCK
100 shares @ $14.25
SHORT CALL
$16 Jun '26 · $1.76/sh
Net Cost
$1,249
Max Profit
+$301
Break-even
$12.49
Projected P&L at Target
+$301
(24.1%)
P&L at Expiry
P&L Scenarios
What happens at different QBTS prices by expiry:
| QBTS Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $11 (-20%) | -$173 | -$147 | -$122 | -$109 |
| $12 (-15%) | -$124 | -$94 | -$60 | -$38 |
| $13 (-10%) | -$79 | -$44 | -$3 | +$34 |
| $14 (-5%) | -$37 | +$1 | +$48 | +$105 |
| $14 (-2%) | -$15 | +$25 | +$76 | +$147 |
| $14 (0%) ← now | +$0 | +$41 | +$93 | +$176 |
| $15 (+2%) | +$14 | +$56 | +$110 | +$205 |
| $15 (+5%) | +$34 | +$77 | +$133 | +$247 |
| $16 (+9%) ← target | +$57 | +$101 | +$159 | +$301 |
| $16 (+10%) | +$65 | +$109 | +$167 | +$301 |
| $16 (+15%) | +$92 | +$137 | +$194 | +$301 |
| $17 (+20%) | +$116 | +$161 | +$217 | +$301 |
Why This Strategy, Why Now
- RSI at 39 — oversold, not ideal for selling calls
- IV -34% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 30 — strong trend, stock may run past strike
- No squeeze — no imminent breakout
Key Risks
QBTS 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 QBTS approaches the strike before expiry.
ADX at 30 indicates a moderately strong trend. In trending markets, covered calls cap your upside too early. Use a higher strike to leave more room.