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Why AAPL Is an Excellent Covered Call Candidate Right Now Strong · 78/100
Apple Inc. (Technology) · $331.34 ·
Analysis generated Sep 16, 2026 ·
Data as of market close Sep 16
Quick Take
AAPL is trading at $331.34 with RSI at 60 (neutral territory). Options IV is at 25% — 40% below its 30-day average of 42%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
60
IV Today
25.1%
IV vs 30d Avg
-40%
MACD
bullish
ADX
14
MFI
66
The Setup
AAPL Covered Call
LONG STOCK
100 shares @ $331.34
SHORT CALL
$360 Nov '26 · $5.35/sh
Net Cost
$32,599
Max Profit
+$3,401
Break-even
$325.99
Projected P&L at Target
+$3,401
(10.4%)
P&L at Expiry
P&L Scenarios
What happens at different AAPL prices by expiry:
| AAPL Price | Today | Oct 7 | Oct 29 | Nov 20 (exp) |
|---|---|---|---|---|
| $265 (-20%) | -$6,098 | -$6,093 | -$6,092 | -$6,092 |
| $282 (-15%) | -$4,462 | -$4,441 | -$4,435 | -$4,435 |
| $298 (-10%) | -$2,874 | -$2,810 | -$2,780 | -$2,778 |
| $315 (-5%) | -$1,391 | -$1,251 | -$1,143 | -$1,122 |
| $325 (-2%) | -$581 | -$383 | -$196 | -$128 |
| $331 (0%) ← now | -$83 | +$153 | +$403 | +$535 |
| $338 (+2%) | +$376 | +$647 | +$963 | +$1,198 |
| $348 (+5%) | +$988 | +$1,301 | +$1,698 | +$2,192 |
| $360 (+9%) ← target | +$1,602 | +$1,941 | +$2,388 | +$3,401 |
| $364 (+10%) | +$1,793 | +$2,134 | +$2,582 | +$3,401 |
| $381 (+15%) | +$2,349 | +$2,665 | +$3,047 | +$3,401 |
| $398 (+20%) | +$2,700 | +$2,962 | +$3,232 | +$3,401 |
Why This Strategy, Why Now
- RSI at 60 — neutral-bullish
- IV -40% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 14 — range-bound, perfect for selling calls
- No squeeze — no imminent breakout
Key Risks
AAPL 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 AAPL approaches the strike before expiry.