ASML wheel: cash-secured put & covered-call yields
ASML Holding NV · $1,497.12 close on Nov 12, 2026
What the Nov 12, 2026 close says about ASML
At 45.9% implied volatility, the options market is pricing a one-standard-deviation move of about $215.92 (14.4%) in ASML by Dec 18, 2026, 36 days out.
Selling the $1400 put (−0.29Δ) for $47.20 means assignment would leave a cost basis of $1,352.80, 9.6% below the $1,497.12 close.
The 64-day 0.30Δ put pays 1.1× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($1.311 vs $0.800).
At 0.30Δ on the Dec 18 expiry the put yields 3.37% on its strike and the call 2.72% on spot: puts pay 1.2× what calls do on ASML this session.
Moving down to the $1340 put (−0.20Δ) buys 4.0% more room below spot and keeps 62% of the 0.30Δ premium.
Open interest in the stored window totals 26,397 contracts; the largest single line is the $1740 call expiring Dec 18 with 1,144 (4.3% of the window).
By options volume ASML ranks #217 of 679 names in our universe.
Near-the-money options volume (1.3k) is 210% 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 ASML
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $1400 | −0.29 | $47.20 Nov 12 | $4,720.00 | $140,000 | 3.37% | 34.2% | $1,352.80 | 728 | 20 |
| 0.20Δ | $1340 | −0.20 | $29.10 Nov 12 | $2,910.00 | $134,000 | 2.17% | 22.0% | $1,310.90 | 138 | 54 |
Snapshot #9309 · session 2026-11-12 · captured 22:01 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 | $1390 | −0.30 | $51.20 Nov 12 | $5,120.00 | $139,000 | 3.68% | 21.0% | $1,338.80 | 97 | 1 |
| 0.20Δ | $1300 | −0.19 | $34.82 Nov 12 | $3,482.00 | $130,000 | 2.68% | 15.3% | $1,265.18 | 529 | 1 |
Snapshot #9309 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on ASML
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $1640 | 0.30 | $40.70 Nov 12 | $4,070.00 | 2.72% | 27.6% | 12.26% | 124.3% | 91 | 8 |
| 0.20Δ | $1710 | 0.20 | $21.10 Nov 12 | $2,110.00 | 1.41% | 14.3% | 15.63% | 158.5% | 56 | 8 |
Snapshot #9309 · session 2026-11-12 · captured 22:01 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 | $1700 | 0.28 | $41.14 Nov 12 | $4,114.00 | 2.75% | 15.7% | 16.30% | 93.0% | 476 | 121 |
| 0.20Δ | $1760 | 0.22 | $28.31 Nov 12 | $2,831.00 | 1.89% | 10.8% | 19.45% | 110.9% | 93 | 2 |
Snapshot #9309 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
ASML volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 45.9%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 26,397 contractssession 2026-11-12
- Largest open-interest line
- $1740 call · Dec 18 · 1,144
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #217 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.