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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) · $344.59 ·
Analysis generated Oct 7, 2026 ·
Data as of market close Oct 7
Quick Take
GOOG is trading at $344.59 with RSI at 54 (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)
54
IV Today
33.2%
IV vs 30d Avg
-27%
MACD
bullish
ADX
15
MFI
66
The Setup
GOOG Covered Call
LONG STOCK
100 shares @ $344.59
SHORT CALL
$370 Dec '26 · $11.67/sh
Net Cost
$33,292
Max Profit
+$3,708
Break-even
$332.92
Projected P&L at Target
+$3,708
(11.1%)
P&L at Expiry
P&L Scenarios
What happens at different GOOG prices by expiry:
| GOOG Price | Today | Oct 31 | Nov 24 | Dec 18 (exp) |
|---|---|---|---|---|
| $276 (-20%) | -$5,779 | -$5,738 | -$5,725 | -$5,725 |
| $293 (-15%) | -$4,149 | -$4,053 | -$4,006 | -$4,002 |
| $310 (-10%) | -$2,619 | -$2,436 | -$2,304 | -$2,279 |
| $327 (-5%) | -$1,236 | -$949 | -$674 | -$556 |
| $338 (-2%) | -$495 | -$147 | +$230 | +$478 |
| $345 (0%) ← now | -$42 | +$341 | +$783 | +$1,167 |
| $351 (+2%) | +$376 | +$789 | +$1,289 | +$1,856 |
| $362 (+5%) | +$938 | +$1,384 | +$1,945 | +$2,890 |
| $370 (+7%) ← target | +$1,328 | +$1,787 | +$2,370 | +$3,708 |
| $379 (+10%) | +$1,703 | +$2,165 | +$2,745 | +$3,708 |
| $396 (+15%) | +$2,271 | +$2,705 | +$3,215 | +$3,708 |
| $414 (+20%) | +$2,672 | +$3,052 | +$3,448 | +$3,708 |
Why This Strategy, Why Now
- RSI at 54 — neutral-bullish
- IV -27% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 15 — 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.