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RNG Covered Call Analysis: Proceed With Caution Weak · 30/100
RNG · $33.49 ·
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 RNG right now
Score 30/100. The technical signals do not support selling covered calls on RNG at this time.
IV -46% vs avg — premiums below average, less income. MACD bearish — stock may keep falling (risk). TTM Squeeze ON — breakout imminent, risky for capped strategies.
Check back when conditions improve, or consider a different strategy.
Quick Take
RNG is trading at $33.49 with RSI at 40 (neutral territory). Options IV is at 63% — 46% below its 30-day average of 116%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
40
IV Today
63.2%
IV vs 30d Avg
-46%
MACD
bearish
ADX
22
MFI
48
The Setup
RNG Covered Call
LONG STOCK
100 shares @ $33.49
SHORT CALL
$36 Jun '26 · $2.89/sh
Net Cost
$3,060
Max Profit
+$540
Break-even
$30.60
Projected P&L at Target
+$540
(17.6%)
P&L at Expiry
P&L Scenarios
What happens at different RNG prices by expiry:
| RNG Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $27 (-20%) | -$452 | -$417 | -$389 | -$381 |
| $28 (-15%) | -$321 | -$276 | -$233 | -$213 |
| $30 (-10%) | -$202 | -$147 | -$87 | -$46 |
| $32 (-5%) | -$95 | -$31 | +$46 | +$122 |
| $33 (-2%) | -$36 | +$32 | +$116 | +$222 |
| $33 (0%) ← now | +$0 | +$71 | +$160 | +$289 |
| $34 (+2%) | +$35 | +$108 | +$201 | +$356 |
| $35 (+5%) | +$84 | +$159 | +$256 | +$456 |
| $36 (+7%) ← target | +$121 | +$198 | +$297 | +$540 |
| $37 (+10%) | +$156 | +$234 | +$334 | +$540 |
| $39 (+15%) | +$218 | +$296 | +$393 | +$540 |
| $40 (+20%) | +$271 | +$346 | +$437 | +$540 |
Why This Strategy, Why Now
- RSI at 40
- IV -46% vs avg — premiums below average, less income
- MACD bearish — stock may keep falling (risk)
- ADX at 22 — moderate trend
- TTM Squeeze ON — breakout imminent, risky for capped strategies
Key Risks
TTM Squeeze is ON — a volatility breakout may be imminent. If the breakout is to the upside, your short call will be tested quickly.