ARKK wheel: cash-secured put & covered-call yields
ARK Innovation ETF · ETFs · $89.25 close on Sep 28, 2026
What the Sep 28, 2026 close says about ARKK
At 40.4% implied volatility, the options market is pricing a one-standard-deviation move of about $10.68 (12.0%) in ARKK by Oct 30, 2026, 32 days out.
Selling the $85 put (−0.30Δ) for $2.00 means assignment would leave a cost basis of $83.00, 7.0% below the $89.25 close.
The 81-day 0.30Δ put pays 1.8× the premium of the 32-day one for 2.5× the time — more premium per day on the 32-day contract ($0.063 vs $0.044).
At 0.30Δ on the Oct 30 expiry the put yields 2.35% on its strike and the call 2.11% on spot: puts pay 1.1× what calls do on ARKK this session.
Moving down to the $82 put (−0.20Δ) buys 3.4% more room below spot and keeps 58% of the 0.30Δ premium.
Open interest in the stored window totals 32,474 contracts; the largest single line is the $80 put expiring Dec 18 with 9,066 (27.9% of the window).
By options volume ARKK ranks #75 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 ARKK
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $85 | −0.30 | $2.00 Sep 28 | $200.00 | $8,500 | 2.35% | 26.8% | $83.00 | 145 | 13 |
| 0.20Δ | $82 | −0.20 | $1.16 Sep 28 | $116.00 | $8,200 | 1.41% | 16.1% | $80.84 | 41 | 3 |
Snapshot #66 · 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 | $84 | −0.32 | $3.58 Sep 28 | $358.00 | $8,400 | 4.26% | 19.2% | $80.42 | 1,674 | 2 |
| 0.20Δ | $77 | −0.18 | $1.75 Sep 28 | $175.00 | $7,700 | 2.27% | 10.2% | $75.25 | 435 | 6 |
Snapshot #66 · session 2026-09-28 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on ARKK
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $95 | 0.29 | $1.88 Sep 28 | $188.00 | 2.11% | 24.0% | 8.55% | 97.5% | 39 | 22 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #66 · 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 | $100 | 0.29 | $2.55 Sep 28 | $255.00 | 2.86% | 12.9% | 14.90% | 67.2% | 2,340 | 23 |
| 0.20Δ | $105 | 0.20 | $1.53 Sep 28 | $153.00 | 1.71% | 7.7% | 19.36% | 87.2% | 570 | 1 |
Snapshot #66 · session 2026-09-28 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
ARKK volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 40.4%session 2026-09-28
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 32,474 contractssession 2026-09-28
- Largest open-interest line
- $80 put · Dec 18 · 9,066
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #75 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.
- 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.