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ASML Covered Call Strategy: Is Now a Good Time to Sell Calls? Moderate · 70/100
ASML Holding NV ADR (Technology) · $1917.01 ·
Analysis generated Jun 18, 2026 ·
Data as of market close Jun 18
Quick Take
ASML is trading at $1917.01 with RSI at 65 (neutral territory). Options IV is at 55% — 30% below its 30-day average of 79%. While the stock is extended, IV is below average which means premiums aren't as rich. The trade still works but yields less income than usual.
Technical Signals
RSI (14)
65
IV Today
55.1%
IV vs 30d Avg
-31%
MACD
bullish
ADX
32
MFI
74
The Setup
ASML Covered Call
LONG STOCK
100 shares @ $1917.01
SHORT CALL
$2070 Aug '26 · $125.76/sh
Net Cost
$179,125
Max Profit
+$27,875
Break-even
$1791.25
Projected P&L at Target
+$27,875
(15.6%)
P&L at Expiry
P&L Scenarios
What happens at different ASML prices by expiry:
| ASML Price | Today | Jul 9 | Jul 30 | Aug 21 (exp) |
|---|---|---|---|---|
| $1534 (-20%) | -$27,919 | -$26,711 | -$25,902 | -$25,764 |
| $1629 (-15%) | -$19,882 | -$18,114 | -$16,628 | -$16,179 |
| $1725 (-10%) | -$12,499 | -$10,140 | -$7,784 | -$6,594 |
| $1821 (-5%) | -$5,856 | -$2,949 | +$339 | +$2,991 |
| $1879 (-2%) | -$2,247 | +$941 | +$4,740 | +$8,742 |
| $1917 (0%) ← now | -$0 | +$3,347 | +$7,443 | +$12,576 |
| $1955 (+2%) | +$2,118 | +$5,600 | +$9,949 | +$16,410 |
| $2013 (+5%) | +$5,059 | +$8,694 | +$13,320 | +$22,161 |
| $2070 (+8%) ← target | +$7,707 | +$11,433 | +$16,204 | +$27,875 |
| $2109 (+10%) | +$9,349 | +$13,104 | +$17,900 | +$27,875 |
| $2205 (+15%) | +$12,923 | +$16,639 | +$21,263 | +$27,875 |
| $2300 (+20%) | +$15,851 | +$19,398 | +$23,591 | +$27,875 |
Why This Strategy, Why Now
- RSI at 65 — extended, ideal for selling calls
- IV -30% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 32 — strong trend, stock may run past strike
- No squeeze — no imminent breakout
- MFI at 74 — money flow confirms overbought
Key Risks
ASML 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 ASML approaches the strike before expiry.
ADX at 32 indicates a moderately strong trend. In trending markets, covered calls cap your upside too early. Use a higher strike to leave more room.