AMZN wheel: cash-secured put & covered-call yields
Amazon.Com Inc · Consumer discretionary · $266.17 close on Nov 11, 2026
What the Nov 11, 2026 close says about AMZN
At 31.4% implied volatility, the options market is pricing a one-standard-deviation move of about $23.96 (9.0%) in AMZN by Dec 11, 2026, 30 days out.
Selling the $255 put (−0.30Δ) for $5.00 means assignment would leave a cost basis of $250.00, 6.1% below the $266.17 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 ($0.167 vs $0.110).
At 0.30Δ on the Dec 11 expiry the put yields 1.96% on its strike and the call 1.72% on spot: puts pay 1.1× what calls do on AMZN this session.
Moving down to the $245 put (−0.18Δ) buys 3.8% more room below spot and keeps 54% of the 0.30Δ premium.
Open interest in the stored window totals 412,045 contracts; the largest single line is the $275 call expiring Jan 15 with 71,656 (17.4% of the window).
By options volume AMZN ranks #10 of 679 names in our universe.
Near-the-money options volume (2.5k) is 53% 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 AMZN
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $255 | −0.30 | $5.00 Nov 11 | $500.00 | $25,500 | 1.96% | 23.9% | $250.00 | 183 | 136 |
| 0.20Δ | $245 | −0.18 | $2.70 Nov 11 | $270.00 | $24,500 | 1.10% | 13.4% | $242.30 | 645 | 91 |
Snapshot #9017 · 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 | $250 | −0.29 | $7.12 Nov 11 | $712.00 | $25,000 | 2.85% | 16.0% | $242.88 | 16,292 | 1,216 |
| 0.20Δ | $240 | −0.20 | $4.75 Nov 11 | $475.00 | $24,000 | 1.98% | 11.1% | $235.25 | 9,180 | 506 |
Snapshot #9017 · session 2026-11-11 · captured 22:00 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 65
Covered calls on AMZN
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $280 | 0.31 | $4.58 Nov 11 | $458.00 | 1.72% | 20.9% | 6.92% | 84.2% | 756 | 155 |
| 0.20Δ | $290 | 0.18 | $2.30 Nov 11 | $230.00 | 0.86% | 10.5% | 9.82% | 119.4% | 1,581 | 206 |
Snapshot #9017 · 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 | $290 | 0.29 | $6.00 Nov 11 | $600.00 | 2.25% | 12.7% | 11.21% | 62.9% | 21,203 | 1,548 |
| 0.20Δ | $300 | 0.21 | $3.85 Nov 11 | $385.00 | 1.45% | 8.1% | 14.16% | 79.5% | 71,326 | 3,900 |
Snapshot #9017 · session 2026-11-11 · captured 22:00 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 65
AMZN volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 31.4%session 2026-11-11
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 412,045 contractssession 2026-11-11
- Largest open-interest line
- $275 call · Jan 15 · 71,656
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #10 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.