AMD wheel: cash-secured put & covered-call yields
Advanced Micro Devices · Technology · $552.90 close on Nov 11, 2026
What the Nov 11, 2026 close says about AMD
At 63.4% implied volatility, the options market is pricing a one-standard-deviation move of about $100.50 (18.2%) in AMD by Dec 11, 2026, 30 days out.
Selling the $515 put (−0.31Δ) for $21.00 means assignment would leave a cost basis of $494.00, 10.7% below the $552.90 close.
The 65-day 0.30Δ put pays 1.4× the premium of the 30-day one for 2.2× the time — more premium per day on the 30-day contract ($0.700 vs $0.454).
At 0.30Δ on the Dec 11 expiry the put yields 4.08% on its strike and the call 3.54% on spot: puts pay 1.2× what calls do on AMD this session.
Moving down to the $485 put (−0.21Δ) buys 5.4% more room below spot and keeps 64% of the 0.30Δ premium.
Open interest in the stored window totals 169,294 contracts; the largest single line is the $400 put expiring Jan 15 with 12,405 (7.3% of the window).
By options volume AMD ranks #29 of 679 names in our universe.
Near-the-money options volume (2.6k) is 12% 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 AMD
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $515 | −0.31 | $21.00 Nov 11 | $2,100.00 | $51,500 | 4.08% | 49.6% | $494.00 | 269 | 17 |
| 0.20Δ | $485 | −0.21 | $13.45 Nov 11 | $1,345.00 | $48,500 | 2.77% | 33.7% | $471.55 | 86 | 42 |
Snapshot #9015 · session 2026-11-11 · captured 22:00 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $500 | −0.29 | $29.50 Nov 11 | $2,950.00 | $50,000 | 5.90% | 33.1% | $470.50 | 8,982 | 1,756 |
| 0.20Δ | $460 | −0.19 | $17.01 Nov 11 | $1,701.00 | $46,000 | 3.70% | 20.8% | $442.99 | 2,660 | 153 |
Snapshot #9015 · session 2026-11-11 · captured 22:00 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 65
Covered calls on AMD
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $610 | 0.32 | $19.60 Nov 11 | $1,960.00 | 3.54% | 43.1% | 13.87% | 168.8% | 111 | 60 |
| 0.20Δ | $650 | 0.20 | $10.92 Nov 11 | $1,092.00 | 1.98% | 24.0% | 19.54% | 237.7% | 318 | 313 |
Snapshot #9015 · session 2026-11-11 · captured 22:00 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $650 | 0.30 | $23.10 Nov 11 | $2,310.00 | 4.18% | 23.5% | 21.74% | 122.1% | 4,883 | 1,496 |
| 0.20Δ | $700 | 0.20 | $14.30 Nov 11 | $1,430.00 | 2.59% | 14.5% | 29.19% | 163.9% | 6,168 | 821 |
Snapshot #9015 · session 2026-11-11 · captured 22:00 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 65
AMD volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 63.4%session 2026-11-11
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 169,294 contractssession 2026-11-11
- Largest open-interest line
- $400 put · Jan 15 · 12,405
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #29 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.