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GOOG Covered Call Strategy: Is Now a Good Time to Sell Calls? Moderate · 63/100
Alphabet Inc Class C (Communication Services) · $341.43 ·
Analysis generated Sep 16, 2026 ·
Data as of market close Sep 16
Quick Take
GOOG is trading at $341.43 with RSI at 50 (neutral territory). Options IV is at 33% — 27% below its 30-day average of 46%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
50
IV Today
33.3%
IV vs 30d Avg
-27%
MACD
bullish
ADX
8
MFI
44
The Setup
GOOG Covered Call
LONG STOCK
100 shares @ $341.43
SHORT CALL
$370 Nov '26 · $9.8/sh
Net Cost
$33,163
Max Profit
+$3,837
Break-even
$331.63
Projected P&L at Target
+$3,837
(11.6%)
P&L at Expiry
P&L Scenarios
What happens at different GOOG prices by expiry:
| GOOG Price | Today | Oct 7 | Oct 29 | Nov 20 (exp) |
|---|---|---|---|---|
| $273 (-20%) | -$5,925 | -$5,870 | -$5,850 | -$5,849 |
| $290 (-15%) | -$4,328 | -$4,213 | -$4,147 | -$4,141 |
| $307 (-10%) | -$2,830 | -$2,629 | -$2,469 | -$2,434 |
| $324 (-5%) | -$1,472 | -$1,172 | -$864 | -$727 |
| $335 (-2%) | -$739 | -$381 | +$27 | +$297 |
| $341 (0%) ← now | -$287 | +$105 | +$578 | +$980 |
| $348 (+2%) | +$134 | +$555 | +$1,086 | +$1,663 |
| $359 (+5%) | +$706 | +$1,161 | +$1,758 | +$2,687 |
| $370 (+8%) ← target | +$1,265 | +$1,739 | +$2,373 | +$3,837 |
| $376 (+10%) | +$1,504 | +$1,982 | +$2,617 | +$3,837 |
| $393 (+15%) | +$2,120 | +$2,582 | +$3,167 | +$3,837 |
| $410 (+20%) | +$2,577 | +$2,995 | +$3,476 | +$3,837 |
Why This Strategy, Why Now
- RSI at 50 — neutral-bullish
- IV -27% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 8 — range-bound, perfect for selling calls
- TTM Squeeze ON — breakout imminent, risky for capped strategies
Key Risks
GOOG 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 GOOG approaches the strike before expiry.
TTM Squeeze is ON — a volatility breakout may be imminent. If the breakout is to the upside, your short call will be tested quickly.