← Best Covered Calls
/ WDAY
WDAY Covered Call Analysis: Proceed With Caution Weak · 15/100
WDAY · $112.50 ·
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 WDAY right now
Score 15/100. The technical signals do not support selling covered calls on WDAY at this time.
RSI at 27 — oversold, not ideal for selling calls. IV -24% vs avg — premiums below average, less income. MACD bearish — stock may keep falling (risk). ADX at 40 — strong trend, stock may run past strike.
Check back when conditions improve, or consider a different strategy.
Quick Take
WDAY is trading at $112.50 with RSI at 27 (oversold territory). Options IV is at 56% — 24% below its 30-day average of 74%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
27
IV Today
56.1%
IV vs 30d Avg
-24%
MACD
bearish
ADX
40
MFI
23
The Setup
WDAY Covered Call
LONG STOCK
100 shares @ $112.5
SHORT CALL
$120 Jun '26 · $8.5/sh
Net Cost
$10,400
Max Profit
+$1,600
Break-even
$104.00
Projected P&L at Target
+$1,600
(15.4%)
P&L at Expiry
P&L Scenarios
What happens at different WDAY prices by expiry:
| WDAY Price | Today | May 5 | May 27 | Jun 19 (exp) |
|---|---|---|---|---|
| $90 (-20%) | -$1,574 | -$1,483 | -$1,415 | -$1,400 |
| $96 (-15%) | -$1,121 | -$996 | -$882 | -$838 |
| $101 (-10%) | -$707 | -$547 | -$379 | -$275 |
| $107 (-5%) | -$336 | -$146 | +$76 | +$288 |
| $110 (-2%) | -$136 | +$69 | +$319 | +$625 |
| $113 (0%) ← now | -$11 | +$202 | +$468 | +$850 |
| $115 (+2%) | +$107 | +$327 | +$605 | +$1,075 |
| $118 (+5%) | +$270 | +$498 | +$788 | +$1,412 |
| $120 (+7%) ← target | +$355 | +$585 | +$879 | +$1,600 |
| $124 (+10%) | +$510 | +$742 | +$1,038 | +$1,600 |
| $129 (+15%) | +$710 | +$938 | +$1,221 | +$1,600 |
| $135 (+20%) | +$875 | +$1,093 | +$1,349 | +$1,600 |
Why This Strategy, Why Now
- RSI at 27 — oversold, not ideal for selling calls
- IV -24% vs avg — premiums below average, less income
- MACD bearish — stock may keep falling (risk)
- ADX at 40 — strong trend, stock may run past strike
- No squeeze — no imminent breakout
Key Risks
ADX at 40 indicates a moderately strong trend. In trending markets, covered calls cap your upside too early. Use a higher strike to leave more room.