AZO wheel: cash-secured put & covered-call yields
AutoZone, Inc. · Consumer discretionary · $2,807.73 close on Oct 5, 2026
What the Oct 5, 2026 close says about AZO
At 32.5% implied volatility, the options market is pricing a one-standard-deviation move of about $324.39 (11.6%) in AZO by Nov 20, 2026, 46 days out.
Selling the $2660 put (−0.29Δ) for $76.05 means assignment would leave a cost basis of $2,583.95, 8.0% below the $2,807.73 close.
The 74-day 0.30Δ put pays 1.1× the premium of the 46-day one for 1.6× the time — more premium per day on the 46-day contract ($1.653 vs $1.107).
At 0.30Δ on the Nov 20 expiry the put yields 2.86% on its strike and the call 2.14% on spot: puts pay 1.3× what calls do on AZO this session.
Moving down to the $2580 put (−0.21Δ) buys 2.8% more room below spot and keeps 56% of the 0.30Δ premium.
Open interest in the stored window totals 1,760 contracts; the largest single line is the $3000 call expiring Nov 20 with 96 (5.5% of the window).
By options volume AZO ranks #245 of 514 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 AZO
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $2660 | −0.29 | $76.05 Oct 5 | $7,605.00 | $266,000 | 2.86% | 22.7% | $2,583.95 | 3 | 1 |
| 0.20Δ | $2580 | −0.21 | $42.42 Oct 5 | $4,242.00 | $258,000 | 1.64% | 13.0% | $2,537.58 | 4 | 5 |
Snapshot #1331 · session 2026-10-05 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 46
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $2600 | −0.27 | $81.90 Oct 5 | $8,190.00 | $260,000 | 3.15% | 15.5% | $2,518.10 | 53 | 1 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #1331 · session 2026-10-05 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 74
Covered calls on AZO
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $3000 | 0.32 | $60.13 Oct 5 | $6,013.00 | 2.14% | 17.0% | 8.99% | 71.3% | 96 | 24 |
| 0.20Δ | $3150 | 0.18 | $28.92 Oct 5 | $2,892.00 | 1.03% | 8.2% | 13.22% | 104.9% | 88 | 3 |
Snapshot #1331 · session 2026-10-05 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 46
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $3050 | 0.34 | $85.00 Oct 5 | $8,500.00 | 3.03% | 14.9% | 11.66% | 57.5% | 19 | 2 |
| 0.20Δ | $3250 | 0.21 | $47.00 Oct 5 | $4,700.00 | 1.67% | 8.3% | 17.43% | 86.0% | 29 | 1 |
Snapshot #1331 · session 2026-10-05 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 74
AZO volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 32.5%session 2026-10-05
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Oct 5, 2026
- Open interest, stored window
- 1,760 contractssession 2026-10-05
- Largest open-interest line
- $3000 call · Nov 20 · 96
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #245 of 514 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.