← Best Covered Calls
/ AAPL
AAPL Covered Call Analysis: Proceed With Caution Weak · 58/100
Apple Inc. (Technology) · $311.30 ·
Analysis generated Aug 21, 2026 ·
Data as of market close Aug 21
Quick Take
AAPL is trading at $311.30 with RSI at 51 (neutral territory). Options IV is at 26% — 41% below its 30-day average of 44%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
51
IV Today
26.1%
IV vs 30d Avg
-41%
MACD
bearish
ADX
19
MFI
63
The Setup
AAPL Covered Call
LONG STOCK
100 shares @ $311.3
SHORT CALL
$335 Oct '26 · $4.48/sh
Net Cost
$30,682
Max Profit
+$2,818
Break-even
$306.82
Projected P&L at Target
+$2,818
(9.2%)
P&L at Expiry
P&L Scenarios
What happens at different AAPL prices by expiry:
| AAPL Price | Today | Sep 8 | Sep 27 | Oct 16 (exp) |
|---|---|---|---|---|
| $249 (-20%) | -$5,783 | -$5,779 | -$5,778 | -$5,778 |
| $265 (-15%) | -$4,247 | -$4,227 | -$4,221 | -$4,221 |
| $280 (-10%) | -$2,761 | -$2,699 | -$2,667 | -$2,665 |
| $296 (-5%) | -$1,379 | -$1,244 | -$1,133 | -$1,108 |
| $305 (-2%) | -$632 | -$443 | -$254 | -$175 |
| $311 (0%) ← now | -$175 | +$48 | +$297 | +$448 |
| $318 (+2%) | +$243 | +$497 | +$804 | +$1,071 |
| $327 (+5%) | +$794 | +$1,081 | +$1,457 | +$2,005 |
| $335 (+8%) ← target | +$1,198 | +$1,499 | +$1,901 | +$2,818 |
| $342 (+10%) | +$1,506 | +$1,807 | +$2,203 | +$2,818 |
| $358 (+15%) | +$1,982 | +$2,251 | +$2,566 | +$2,818 |
| $374 (+20%) | +$2,273 | +$2,486 | +$2,696 | +$2,818 |
Why This Strategy, Why Now
- RSI at 51 — neutral-bullish
- IV -41% vs avg — premiums below average, less income
- MACD bearish — stock may keep falling (risk)
- ADX at 19 — range-bound, perfect for selling calls
- No squeeze — no imminent breakout
Key Risks
The main risk is missing upside if AAPL rallies sharply. The premium received ($X per share) provides a buffer, but gains above the strike are forfeited.