AKAM wheel: cash-secured put & covered-call yields
Akamai Technologies Inc · Industrials · $86.56 close on Nov 12, 2026
What the Nov 12, 2026 close says about AKAM
At 55.7% implied volatility, the options market is pricing a one-standard-deviation move of about $15.13 (17.5%) in AKAM by Dec 18, 2026, 36 days out.
Selling the $80 put (−0.29Δ) for $3.20 means assignment would leave a cost basis of $76.80, 11.3% below the $86.56 close.
The 64-day 0.30Δ put pays 1.5× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.089 vs $0.075).
At 0.30Δ on the Dec 18 expiry the put yields 4.00% on its strike and the call 3.65% on spot: puts and calls pay within 10% of each other on AKAM this session.
Moving down to the $75 put (−0.20Δ) buys 5.8% more room below spot and keeps 59% of the 0.30Δ premium.
Open interest in the stored window totals 38,746 contracts; the largest single line is the $80 put expiring Jan 15 with 5,514 (14.2% of the window).
By options volume AKAM ranks #202 of 679 names in our universe.
Near-the-money options volume (204) is 35% below 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 AKAM
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $80 | −0.29 | $3.20 Nov 12 | $320.00 | $8,000 | 4.00% | 40.6% | $76.80 | 1,498 | 52 |
| 0.20Δ | $75 | −0.20 | $1.90 Nov 12 | $190.00 | $7,500 | 2.53% | 25.7% | $73.10 | 4,444 | 43 |
Snapshot #9295 · 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 | $80 | −0.32 | $4.80 Nov 12 | $480.00 | $8,000 | 6.00% | 34.2% | $75.20 | 5,514 | 3 |
| 0.20Δ | $70 | −0.16 | $1.97 Nov 12 | $197.00 | $7,000 | 2.81% | 16.1% | $68.03 | 1,808 | 16 |
Snapshot #9295 · session 2026-11-12 · captured 22:00 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on AKAM
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $95 | 0.33 | $3.16 Nov 12 | $316.00 | 3.65% | 37.0% | 13.40% | 135.9% | 1,002 | 7 |
| 0.20Δ | $100 | 0.22 | $2.03 Nov 12 | $203.00 | 2.35% | 23.8% | 17.87% | 181.2% | 1,506 | 35 |
Snapshot #9295 · 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 | $100 | 0.31 | $3.66 Nov 12 | $366.00 | 4.23% | 24.1% | 19.76% | 112.7% | 1,961 | 57 |
| 0.20Δ | $105 | 0.23 | $2.50 Nov 12 | $250.00 | 2.89% | 16.5% | 24.19% | 138.0% | 721 | 12 |
Snapshot #9295 · session 2026-11-12 · captured 22:00 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
AKAM volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 55.7%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 38,746 contractssession 2026-11-12
- Largest open-interest line
- $80 put · Jan 15 · 5,514
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #202 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.
- 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.