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ASML Covered Call Strategy: Is Now a Good Time to Sell Calls? Moderate · 70/100
ASML Holding NV ADR (Technology) · $1750.31 ·
Analysis generated Aug 20, 2026 ·
Data as of market close Aug 20
Quick Take
ASML is trading at $1750.31 with RSI at 49 (neutral territory). Options IV is at 48% — 41% below its 30-day average of 81%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
49
IV Today
47.9%
IV vs 30d Avg
-41%
MACD
bullish
ADX
12
MFI
60
The Setup
ASML Covered Call
LONG STOCK
100 shares @ $1750.31
SHORT CALL
$1890 Oct '26 · $84.55/sh
Net Cost
$166,576
Max Profit
+$22,424
Break-even
$1665.76
Projected P&L at Target
+$22,424
(13.5%)
P&L at Expiry
P&L Scenarios
What happens at different ASML prices by expiry:
| ASML Price | Today | Sep 8 | Sep 27 | Oct 16 (exp) |
|---|---|---|---|---|
| $1400 (-20%) | -$27,411 | -$26,861 | -$26,573 | -$26,551 |
| $1488 (-15%) | -$19,563 | -$18,607 | -$17,916 | -$17,800 |
| $1575 (-10%) | -$12,287 | -$10,839 | -$9,490 | -$9,048 |
| $1663 (-5%) | -$5,732 | -$3,781 | -$1,595 | -$297 |
| $1715 (-2%) | -$2,190 | +$31 | +$2,724 | +$4,954 |
| $1750 (0%) ← now | -$0 | +$2,376 | +$5,375 | +$8,455 |
| $1785 (+2%) | +$2,049 | +$4,557 | +$7,820 | +$11,956 |
| $1838 (+5%) | +$4,860 | +$7,514 | +$11,067 | +$17,207 |
| $1890 (+8%) ← target | +$7,345 | +$10,080 | +$13,774 | +$22,424 |
| $1925 (+10%) | +$8,859 | +$11,612 | +$15,317 | +$22,424 |
| $2013 (+15%) | +$12,057 | +$14,738 | +$18,206 | +$22,424 |
| $2100 (+20%) | +$14,545 | +$17,023 | +$19,995 | +$22,424 |
Why This Strategy, Why Now
- RSI at 49
- IV -41% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 12 — range-bound, perfect for selling calls
- No squeeze — no imminent breakout
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.