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TTWO Covered Call Strategy: Is Now a Good Time to Sell Calls? Moderate · 65/100
TTWO · $197.07 ·
Analysis generated Apr 13, 2026 ·
Data as of market close Apr 13
Quick Take
TTWO is trading at $197.07 with RSI at 43 (neutral territory). Options IV is at 41% — 45% below its 30-day average of 75%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
43
IV Today
40.8%
IV vs 30d Avg
-45%
MACD
bullish
ADX
21
MFI
41
The Setup
TTWO Covered Call
LONG STOCK
100 shares @ $197.07
SHORT CALL
$215 Jun '26 · $8.58/sh
Net Cost
$18,849
Max Profit
+$2,651
Break-even
$188.49
Projected P&L at Target
+$2,651
(14.1%)
P&L at Expiry
P&L Scenarios
What happens at different TTWO prices by expiry:
| TTWO Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $158 (-20%) | -$3,161 | -$3,108 | -$3,085 | -$3,083 |
| $168 (-15%) | -$2,264 | -$2,168 | -$2,107 | -$2,098 |
| $177 (-10%) | -$1,427 | -$1,275 | -$1,150 | -$1,113 |
| $187 (-5%) | -$667 | -$457 | -$242 | -$127 |
| $193 (-2%) | -$255 | -$11 | +$259 | +$464 |
| $197 (0%) ← now | -$0 | +$264 | +$570 | +$858 |
| $201 (+2%) | +$239 | +$520 | +$859 | +$1,252 |
| $207 (+5%) | +$568 | +$869 | +$1,246 | +$1,843 |
| $215 (+9%) ← target | +$961 | +$1,277 | +$1,679 | +$2,651 |
| $227 (+15%) | +$1,415 | +$1,728 | +$2,115 | +$2,651 |
| $236 (+20%) | +$1,708 | +$2,000 | +$2,338 | +$2,651 |
Why This Strategy, Why Now
- RSI at 43
- IV -45% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 21 — moderate trend
- No squeeze — no imminent breakout
Key Risks
TTWO 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 TTWO approaches the strike before expiry.