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Why ISRG Is an Excellent Covered Call Candidate Right Now Strong · 83/100
Intuitive Surgical Inc (Healthcare) · $374.48 ·
Analysis generated Aug 21, 2026 ·
Data as of market close Aug 21
Quick Take
ISRG is trading at $374.48 with RSI at 58 (neutral territory). Options IV is at 36% — 48% below its 30-day average of 69%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
58
IV Today
35.8%
IV vs 30d Avg
-48%
MACD
bullish
ADX
17
MFI
79
The Setup
ISRG Covered Call
LONG STOCK
100 shares @ $374.48
SHORT CALL
$405 Oct '26 · $11.0/sh
Net Cost
$36,348
Max Profit
+$4,152
Break-even
$363.48
Projected P&L at Target
+$4,152
(11.4%)
P&L at Expiry
P&L Scenarios
What happens at different ISRG prices by expiry:
| ISRG Price | Today | Sep 8 | Sep 27 | Oct 16 (exp) |
|---|---|---|---|---|
| $300 (-20%) | -$6,437 | -$6,401 | -$6,390 | -$6,390 |
| $318 (-15%) | -$4,651 | -$4,563 | -$4,520 | -$4,517 |
| $337 (-10%) | -$2,962 | -$2,791 | -$2,667 | -$2,645 |
| $356 (-5%) | -$1,423 | -$1,147 | -$877 | -$772 |
| $367 (-2%) | -$593 | -$254 | +$125 | +$351 |
| $374 (0%) ← now | -$82 | +$294 | +$744 | +$1,100 |
| $382 (+2%) | +$391 | +$801 | +$1,316 | +$1,849 |
| $393 (+5%) | +$1,030 | +$1,476 | +$2,066 | +$2,972 |
| $405 (+8%) ← target | +$1,610 | +$2,076 | +$2,702 | +$4,152 |
| $412 (+10%) | +$1,907 | +$2,376 | +$3,002 | +$4,152 |
| $431 (+15%) | +$2,564 | +$3,009 | +$3,568 | +$4,152 |
| $449 (+20%) | +$3,033 | +$3,422 | +$3,859 | +$4,152 |
Why This Strategy, Why Now
- RSI at 58 — neutral-bullish
- IV -48% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 17 — range-bound, perfect for selling calls
- No squeeze — no imminent breakout
- MFI at 79 — money flow confirms overbought
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.