AAOI wheel: cash-secured put & covered-call yields
Applied Optoelectronics, Inc. · Technology · $52.85 close on Nov 12, 2026
What the Nov 12, 2026 close says about AAOI
At 108.2% implied volatility, the options market is pricing a one-standard-deviation move of about $17.95 (34.0%) in AAOI by Dec 18, 2026, 36 days out.
Open interest in the stored window totals 27,004 contracts; the largest single line is the $37 put expiring Jan 15 with 3,610 (13.4% of the window).
By options volume AAOI ranks #250 of 679 names in our universe.
Near-the-money options volume (1.1k) is 303% above its 5-session average.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on AAOI
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $40 | −0.16 | $1.88 Nov 12 | $188.00 | $4,000 | 4.70% | 47.7% | $38.12 | 2,013 | 61 |
Snapshot #9286 · session 2026-11-12 · captured 22:00 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $47 | −0.30 | $5.10 Nov 12 | $510.00 | $4,700 | 10.85% | 61.9% | $41.90 | 201 | 2 |
| 0.20Δ | $40 | −0.19 | $2.98 Nov 12 | $298.00 | $4,000 | 7.45% | 42.5% | $37.02 | 1,581 | 97 |
Snapshot #9286 · session 2026-11-12 · captured 22:00 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on AAOI
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $65 | 0.32 | $3.00 Nov 12 | $300.00 | 5.68% | 57.6% | 28.67% | 290.6% | 720 | 85 |
| 0.20Δ | $75 | 0.18 | $1.52 Nov 12 | $152.00 | 2.88% | 29.2% | 44.79% | 454.1% | 937 | 877 |
Snapshot #9286 · session 2026-11-12 · captured 22:00 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $70 | 0.33 | $3.60 Nov 12 | $360.00 | 6.81% | 38.8% | 39.26% | 223.9% | 852 | 515 |
| 0.20Δ | Unavailable2 | |||||||||
Snapshot #9286 · session 2026-11-12 · captured 22:00 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
AAOI volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 108.2%session 2026-11-12
- IV rank / IV percentile
- Unavailable3
- Next earnings
- Unavailable4
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 27,004 contractssession 2026-11-12
- Largest open-interest line
- $37 put · Jan 15 · 3,610
- Bid/ask spread
- Unavailable5
- Options liquidity rank
- #250 of 679 optionable names by options volume
How these numbers are made
One end-of-day snapshot per session from a 15-minute-delayed feed. A premium is a contract’s last trade, used only if it printed that session, sits above intrinsic value and is in order with its neighbours; deltas are the feed’s own. Expiries are the first at least 30 and 60 days out, and nothing under 30 days is annualized. Not investment advice. Full methodology.
- No contract near 0.30Δ traded this session
- No contract near 0.20Δ traded this session
- We are building our own daily implied-volatility history (34 of 252 sessions so far); IV rank and percentile need a full year of it.
- Our data provider does not license announced earnings dates, and we do not publish estimates.
- Our data feed carries last trades, not live bid/ask quotes, so we cannot show a spread.