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ISRG Covered Call Strategy: Is Now a Good Time to Sell Calls? Moderate · 65/100
Intuitive Surgical Inc (Healthcare) · $353.33 ·
Analysis generated Jul 31, 2026 ·
Data as of market close Jul 31
Quick Take
ISRG is trading at $353.33 with RSI at 40 (neutral territory). Options IV is at 36% — 46% below its 30-day average of 67%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
40
IV Today
36.4%
IV vs 30d Avg
-46%
MACD
bullish
ADX
26
MFI
44
The Setup
ISRG Covered Call
LONG STOCK
100 shares @ $353.33
SHORT CALL
$380 Sep '26 · $10.0/sh
Net Cost
$34,333
Max Profit
+$3,667
Break-even
$343.33
Projected P&L at Target
+$3,667
(10.7%)
P&L at Expiry
P&L Scenarios
What happens at different ISRG prices by expiry:
| ISRG Price | Today | Aug 17 | Sep 2 | Sep 18 (exp) |
|---|---|---|---|---|
| $283 (-20%) | -$6,104 | -$6,075 | -$6,067 | -$6,067 |
| $300 (-15%) | -$4,411 | -$4,335 | -$4,302 | -$4,300 |
| $318 (-10%) | -$2,810 | -$2,655 | -$2,550 | -$2,533 |
| $336 (-5%) | -$1,353 | -$1,096 | -$858 | -$767 |
| $346 (-2%) | -$568 | -$251 | +$88 | +$293 |
| $353 (0%) ← now | -$88 | +$266 | +$671 | +$1,000 |
| $360 (+2%) | +$356 | +$741 | +$1,205 | +$1,707 |
| $371 (+5%) | +$951 | +$1,369 | +$1,899 | +$2,767 |
| $380 (+8%) ← target | +$1,390 | +$1,823 | +$2,377 | +$3,667 |
| $389 (+10%) | +$1,757 | +$2,191 | +$2,741 | +$3,667 |
| $406 (+15%) | +$2,350 | +$2,753 | +$3,225 | +$3,667 |
| $424 (+20%) | +$2,763 | +$3,105 | +$3,456 | +$3,667 |
Why This Strategy, Why Now
- RSI at 40
- IV -46% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 26 — moderate trend
- 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.
ADX at 26 indicates a moderately strong trend. In trending markets, covered calls cap your upside too early. Use a higher strike to leave more room.