AMT wheel: cash-secured put & covered-call yields
American Tower Corporation · Real estate · $182.56 close on Oct 12, 2026
What the Oct 12, 2026 close says about AMT
At 30.7% implied volatility, the options market is pricing a one-standard-deviation move of about $18.31 (10.0%) in AMT by Nov 20, 2026, 39 days out.
Selling the $175 put (−0.31Δ) for $3.75 means assignment would leave a cost basis of $171.25, 6.2% below the $182.56 close.
The 67-day 0.30Δ put pays 1.4× the premium of the 39-day one for 1.7× the time — more premium per day on the 39-day contract ($0.096 vs $0.076).
At 0.30Δ on the Nov 20 expiry the put yields 2.14% on its strike and the call 1.72% on spot: puts pay 1.2× what calls do on AMT this session.
Moving down to the $170 put (−0.21Δ) buys 2.7% more room below spot and keeps 64% of the 0.30Δ premium.
Open interest in the stored window totals 6,346 contracts; the largest single line is the $200 call expiring Dec 18 with 933 (14.7% of the window).
By options volume AMT ranks #98 of 572 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 AMT
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $175 | −0.31 | $3.75 Oct 12 | $375.00 | $17,500 | 2.14% | 20.1% | $171.25 | 113 | 21 |
| 0.20Δ | $170 | −0.21 | $2.40 Oct 12 | $240.00 | $17,000 | 1.41% | 13.2% | $167.60 | 529 | 25 |
Snapshot #2723 · session 2026-10-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 39
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $175 | −0.34 | $5.10 Oct 12 | $510.00 | $17,500 | 2.91% | 15.9% | $169.90 | 178 | 2 |
| 0.20Δ | $165 | −0.19 | $2.40 Oct 12 | $240.00 | $16,500 | 1.45% | 7.9% | $162.60 | 272 | 6 |
Snapshot #2723 · session 2026-10-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 67
Covered calls on AMT
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $195 | 0.27 | $3.14 Oct 12 | $314.00 | 1.72% | 16.1% | 8.53% | 79.9% | 138 | 28 |
| 0.20Δ | $200 | 0.19 | $1.92 Oct 12 | $192.00 | 1.05% | 9.8% | 10.60% | 99.2% | 769 | 263 |
Snapshot #2723 · session 2026-10-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 39
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $195 | 0.33 | $4.80 Oct 12 | $480.00 | 2.63% | 14.3% | 9.44% | 51.4% | 226 | 11 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #2723 · session 2026-10-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 67
AMT volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 30.7%session 2026-10-12
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Oct 12, 2026
- Open interest, stored window
- 6,346 contractssession 2026-10-12
- Largest open-interest line
- $200 call · Dec 18 · 933
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #98 of 572 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 0.20Δ traded this session
- 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.