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VRTX Covered Call Analysis: Proceed With Caution Weak · 50/100
Vertex Pharmaceuticals Inc (Healthcare) · $436.27 ·
Analysis generated Apr 13, 2026 ·
Data as of market close Apr 13
Quick Take
VRTX is trading at $436.27 with RSI at 43 (neutral territory). Options IV is at 30% — 56% below its 30-day average of 67%. 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
29.9%
IV vs 30d Avg
-56%
MACD
bearish
ADX
15
MFI
52
The Setup
VRTX Covered Call
LONG STOCK
100 shares @ $436.27
SHORT CALL
$470 Jun '26 · $11.7/sh
Net Cost
$42,457
Max Profit
+$4,543
Break-even
$424.57
Projected P&L at Target
+$4,543
(10.7%)
P&L at Expiry
P&L Scenarios
What happens at different VRTX prices by expiry:
| VRTX Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $349 (-20%) | -$7,601 | -$7,565 | -$7,555 | -$7,555 |
| $371 (-15%) | -$5,512 | -$5,418 | -$5,377 | -$5,374 |
| $393 (-10%) | -$3,536 | -$3,344 | -$3,215 | -$3,193 |
| $414 (-5%) | -$1,738 | -$1,420 | -$1,128 | -$1,011 |
| $428 (-2%) | -$771 | -$377 | +$38 | +$297 |
| $436 (0%) ← now | -$180 | +$260 | +$757 | +$1,170 |
| $445 (+2%) | +$367 | +$847 | +$1,417 | +$2,043 |
| $458 (+5%) | +$1,099 | +$1,622 | +$2,274 | +$3,351 |
| $470 (+8%) ← target | +$1,677 | +$2,220 | +$2,907 | +$4,543 |
| $480 (+10%) | +$2,092 | +$2,638 | +$3,323 | +$4,543 |
| $502 (+15%) | +$2,820 | +$3,333 | +$3,933 | +$4,543 |
| $524 (+20%) | +$3,326 | +$3,770 | +$4,229 | +$4,543 |
Why This Strategy, Why Now
- RSI at 43
- IV -56% vs avg — premiums below average, less income
- MACD bearish — stock may keep falling (risk)
- ADX at 15 — range-bound, perfect for selling calls
- No squeeze — no imminent breakout
Key Risks
The main risk is missing upside if VRTX rallies sharply. The premium received ($X per share) provides a buffer, but gains above the strike are forfeited.