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KLAC Covered Call Analysis: Proceed With Caution Weak · 55/100
KLA Corporation (Technology) · $231.52 ·
Analysis generated Jul 10, 2026 ·
Data as of market close Jul 10
Quick Take
KLAC is trading at $231.52 with RSI at 49 (neutral territory). Options IV is at 77% — 13% below its 30-day average of 88%. Neither RSI nor IV strongly favor selling calls right now. Consider waiting for better conditions or using a different strategy.
Technical Signals
RSI (14)
49
IV Today
77.1%
IV vs 30d Avg
-13%
MACD
bearish
ADX
25
MFI
40
The Setup
KLAC Covered Call
LONG STOCK
100 shares @ $231.52
SHORT CALL
$250 Sep '26 · $29.0/sh
Net Cost
$20,252
Max Profit
+$4,748
Break-even
$202.52
Projected P&L at Target
+$4,748
(23.4%)
P&L at Expiry
P&L Scenarios
What happens at different KLAC prices by expiry:
| KLAC Price | Today | Aug 3 | Aug 26 | Sep 18 (exp) |
|---|---|---|---|---|
| $185 (-20%) | -$2,721 | -$2,312 | -$1,909 | -$1,730 |
| $197 (-15%) | -$1,918 | -$1,432 | -$904 | -$573 |
| $208 (-10%) | -$1,179 | -$625 | +$25 | +$585 |
| $220 (-5%) | -$508 | +$105 | +$862 | +$1,742 |
| $227 (-2%) | -$135 | +$507 | +$1,318 | +$2,437 |
| $232 (0%) ← now | +$101 | +$759 | +$1,600 | +$2,900 |
| $236 (+2%) | +$326 | +$1,000 | +$1,866 | +$3,363 |
| $243 (+5%) | +$647 | +$1,338 | +$2,235 | +$4,058 |
| $250 (+8%) ← target | +$945 | +$1,649 | +$2,564 | +$4,748 |
| $255 (+10%) | +$1,135 | +$1,845 | +$2,767 | +$4,748 |
| $266 (+15%) | +$1,569 | +$2,285 | +$3,205 | +$4,748 |
| $278 (+20%) | +$1,953 | +$2,664 | +$3,558 | +$4,748 |
Why This Strategy, Why Now
- RSI at 49
- IV -13% vs avg — premiums near average, acceptable
- MACD bearish — stock may keep falling (risk)
- ADX at 25 — moderate trend
- No squeeze — no imminent breakout
Key Risks
The main risk is missing upside if KLAC rallies sharply. The premium received ($X per share) provides a buffer, but gains above the strike are forfeited.