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GOOG Covered Call Strategy: Is Now a Good Time to Sell Calls? Moderate · 70/100
Alphabet Inc Class C (Communication Services) · $355.03 ·
Analysis generated Jul 10, 2026 ·
Data as of market close Jul 10
Quick Take
GOOG is trading at $355.03 with RSI at 47 (neutral territory). Options IV is at 35% — 34% below its 30-day average of 53%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
47
IV Today
35.1%
IV vs 30d Avg
-34%
MACD
bullish
ADX
15
MFI
38
The Setup
GOOG Covered Call
LONG STOCK
100 shares @ $355.03
SHORT CALL
$385 Sep '26 · $10.6/sh
Net Cost
$34,443
Max Profit
+$4,057
Break-even
$344.43
Projected P&L at Target
+$4,057
(11.8%)
P&L at Expiry
P&L Scenarios
What happens at different GOOG prices by expiry:
| GOOG Price | Today | Aug 3 | Aug 26 | Sep 18 (exp) |
|---|---|---|---|---|
| $284 (-20%) | -$6,109 | -$6,058 | -$6,041 | -$6,041 |
| $302 (-15%) | -$4,438 | -$4,326 | -$4,270 | -$4,265 |
| $320 (-10%) | -$2,868 | -$2,666 | -$2,519 | -$2,490 |
| $337 (-5%) | -$1,442 | -$1,133 | -$838 | -$715 |
| $348 (-2%) | -$671 | -$299 | +$100 | +$350 |
| $355 (0%) ← now | -$197 | +$212 | +$680 | +$1,060 |
| $362 (+2%) | +$244 | +$686 | +$1,216 | +$1,770 |
| $373 (+5%) | +$843 | +$1,323 | +$1,923 | +$2,835 |
| $385 (+8%) ← target | +$1,438 | +$1,940 | +$2,581 | +$4,057 |
| $391 (+10%) | +$1,676 | +$2,181 | +$2,824 | +$4,057 |
| $408 (+15%) | +$2,313 | +$2,801 | +$3,391 | +$4,057 |
| $426 (+20%) | +$2,782 | +$3,222 | +$3,703 | +$4,057 |
Why This Strategy, Why Now
- RSI at 47
- IV -34% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 15 — range-bound, perfect for selling calls
- No squeeze — no imminent breakout
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.