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Why SPCX Is an Excellent Covered Call Candidate Right Now Strong · 80/100
Space Exploration Technologies Corp. Class A Common Stock (Industrials) · $171.92 ·
Analysis generated Oct 6, 2026 ·
Data as of market close Oct 6
Quick Take
SPCX is trading at $171.92 with RSI at 70 (neutral territory). Options IV is at 48% — 27% below its 30-day average of 65%. While the stock is extended, IV is below average which means premiums aren't as rich. The trade still works but yields less income than usual.
Technical Signals
RSI (14)
70
IV Today
47.8%
IV vs 30d Avg
-27%
MACD
bullish
ADX
29
MFI
52
The Setup
SPCX Covered Call
LONG STOCK
100 shares @ $171.92
SHORT CALL
$185 Dec '26 · $10.33/sh
Net Cost
$16,159
Max Profit
+$2,341
Break-even
$161.59
Projected P&L at Target
+$2,341
(14.5%)
P&L at Expiry
P&L Scenarios
What happens at different SPCX prices by expiry:
| SPCX Price | Today | Oct 31 | Nov 24 | Dec 18 (exp) |
|---|---|---|---|---|
| $138 (-20%) | -$2,566 | -$2,471 | -$2,413 | -$2,405 |
| $146 (-15%) | -$1,835 | -$1,690 | -$1,575 | -$1,546 |
| $155 (-10%) | -$1,162 | -$963 | -$770 | -$686 |
| $163 (-5%) | -$559 | -$310 | -$30 | +$173 |
| $168 (-2%) | -$232 | +$43 | +$370 | +$689 |
| $172 (0%) ← now | -$30 | +$260 | +$616 | +$1,033 |
| $175 (+2%) | +$161 | +$463 | +$842 | +$1,377 |
| $181 (+5%) | +$424 | +$740 | +$1,144 | +$1,893 |
| $185 (+8%) ← target | +$631 | +$954 | +$1,370 | +$2,341 |
| $189 (+10%) | +$803 | +$1,130 | +$1,547 | +$2,341 |
| $198 (+15%) | +$1,116 | +$1,436 | +$1,834 | +$2,341 |
| $206 (+20%) | +$1,367 | +$1,670 | +$2,023 | +$2,341 |
Why This Strategy, Why Now
- RSI at 70 — extended, ideal for selling calls
- IV -27% vs avg — premiums below average, less income
- MACD bullish — stock has upward momentum
- ADX at 29 — moderate trend
- No squeeze — no imminent breakout
Key Risks
SPCX 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 SPCX approaches the strike before expiry.
ADX at 29 indicates a moderately strong trend. In trending markets, covered calls cap your upside too early. Use a higher strike to leave more room.