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ISRG Covered Call Strategy: Is Now a Good Time to Sell Calls? Moderate · 70/100
Intuitive Surgical Inc (Healthcare) · $406.78 ·
Analysis generated Jul 10, 2026 ·
Data as of market close Jul 10
Quick Take
ISRG is trading at $406.78 with RSI at 45 (neutral territory). Options IV is at 37% — 37% below its 30-day average of 58%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
45
IV Today
36.7%
IV vs 30d Avg
-37%
MACD
bullish
ADX
18
MFI
56
The Setup
ISRG Covered Call
LONG STOCK
100 shares @ $406.78
SHORT CALL
$440 Sep '26 · $17.2/sh
Net Cost
$38,958
Max Profit
+$5,042
Break-even
$389.58
Projected P&L at Target
+$5,042
(12.9%)
P&L at Expiry
P&L Scenarios
What happens at different ISRG prices by expiry:
| ISRG Price | Today | Aug 3 | Aug 26 | Sep 18 (exp) |
|---|---|---|---|---|
| $325 (-20%) | -$6,530 | -$6,448 | -$6,417 | -$6,416 |
| $346 (-15%) | -$4,647 | -$4,485 | -$4,392 | -$4,382 |
| $366 (-10%) | -$2,889 | -$2,615 | -$2,400 | -$2,348 |
| $386 (-5%) | -$1,300 | -$902 | -$505 | -$314 |
| $399 (-2%) | -$443 | +$25 | +$543 | +$906 |
| $407 (0%) ← now | +$85 | +$595 | +$1,188 | +$1,720 |
| $415 (+2%) | +$578 | +$1,122 | +$1,783 | +$2,534 |
| $427 (+5%) | +$1,247 | +$1,832 | +$2,568 | +$3,754 |
| $440 (+8%) ← target | +$1,866 | +$2,473 | +$3,249 | +$5,042 |
| $447 (+10%) | +$2,185 | +$2,796 | +$3,574 | +$5,042 |
| $468 (+15%) | +$2,913 | +$3,504 | +$4,222 | +$5,042 |
| $488 (+20%) | +$3,459 | +$3,997 | +$4,592 | +$5,042 |
Why This Strategy, Why Now
- RSI at 45
- IV -37% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 18 — range-bound, perfect for selling calls
- No squeeze — no imminent breakout
Key Risks
ISRG 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 ISRG approaches the strike before expiry.