AKAM wheel: cash-secured put & covered-call yields
Akamai Technologies Inc · Industrials · $108.99 close on Sep 28, 2026
What the Sep 28, 2026 close says about AKAM
At 50.9% implied volatility, the options market is pricing a one-standard-deviation move of about $16.44 (15.1%) in AKAM by Oct 30, 2026, 32 days out.
Selling the $103 put (−0.33Δ) for $3.31 means assignment would leave a cost basis of $99.69, 8.5% below the $108.99 close.
The 81-day 0.30Δ put pays 2.5× the premium of the 32-day one for 2.5× the time — about the same premium per day either way.
At 0.30Δ on the Oct 30 expiry the put yields 3.21% on its strike and the call 3.03% on spot: puts and calls pay within 10% of each other on AKAM this session.
Moving down to the $97 put (−0.20Δ) buys 5.5% more room below spot and keeps 57% of the 0.30Δ premium.
Open interest in the stored window totals 16,635 contracts; the largest single line is the $140 call expiring Dec 18 with 2,328 (14.0% of the window).
By options volume AKAM ranks #111 of 441 names in our universe.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on AKAM
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $103 | −0.33 | $3.31 Sep 28 | $331.00 | $10,300 | 3.21% | 36.7% | $99.69 | 6 | 1 |
| 0.20Δ | $97 | −0.20 | $1.89 Sep 28 | $189.00 | $9,700 | 1.95% | 22.2% | $95.11 | 3 | 1 |
Snapshot #54 · session 2026-09-28 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $100 | −0.32 | $8.20 Sep 28 | $820.00 | $10,000 | 8.20% | 37.0% | $91.80 | 280 | 253 |
| 0.20Δ | $90 | −0.21 | $4.30 Sep 28 | $430.00 | $9,000 | 4.78% | 21.5% | $85.70 | 100 | 28 |
Snapshot #54 · session 2026-09-28 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on AKAM
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $122 | 0.29 | $3.30 Sep 28 | $330.00 | 3.03% | 34.5% | 14.96% | 170.7% | 218 | 3 |
| 0.20Δ | $130 | 0.17 | $1.35 Sep 28 | $135.00 | 1.24% | 14.1% | 20.52% | 234.0% | 83 | 52 |
Snapshot #54 · session 2026-09-28 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $135 | 0.29 | $5.70 Sep 28 | $570.00 | 5.23% | 23.6% | 29.09% | 131.1% | 1,501 | 3 |
| 0.20Δ | $145 | 0.21 | $3.36 Sep 28 | $336.00 | 3.08% | 13.9% | 36.12% | 162.8% | 187 | 17 |
Snapshot #54 · session 2026-09-28 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
AKAM volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 50.9%session 2026-09-28
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 16,635 contractssession 2026-09-28
- Largest open-interest line
- $140 call · Dec 18 · 2,328
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #111 of 441 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.
- We are building our own daily implied-volatility history (1 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.