B wheel: cash-secured put & covered-call yields
Barrick Mining Corporation · $42.27 close on Nov 9, 2026
What the Nov 9, 2026 close says about B
At 41.1% implied volatility, the options market is pricing a one-standard-deviation move of about $5.14 (12.2%) in B by Dec 11, 2026, 32 days out.
Selling the $40 put (−0.30Δ) for $0.89 means assignment would leave a cost basis of $39.11, 7.5% below the $42.27 close.
The 67-day 0.30Δ put pays 1.8× the premium of the 32-day one for 2.1× the time — more premium per day on the 32-day contract ($0.028 vs $0.024).
At 0.30Δ on the Dec 11 expiry the put yields 2.23% on its strike and the call 2.01% on spot: puts pay 1.1× what calls do on B this session.
Moving down to the $39 put (−0.23Δ) buys 2.4% more room below spot and keeps 90% of the 0.30Δ premium.
Open interest in the stored window totals 73,246 contracts; the largest single line is the $37 put expiring Jan 15 with 15,738 (21.5% of the window).
B goes ex-dividend on Nov 30, 2026 ($0.18 declared), inside the Dec 11 covered-call window. A short call that is in the money before an ex-date can be assigned early.
By options volume B ranks #222 of 679 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 B
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $40 | −0.30 | $0.89 Nov 9 | $89.00 | $4,000 | 2.23% | 25.4% | $39.11 | 6 | 1 |
| 0.20Δ | $39 | −0.23 | $0.80 Nov 9 | $80.00 | $3,900 | 2.05% | 23.4% | $38.20 | 2 | 1 |
Snapshot #8444 · session 2026-11-09 · captured 22:11 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 | $40 | −0.32 | $1.64 Nov 9 | $164.00 | $4,000 | 4.10% | 22.3% | $38.36 | 6,170 | 34 |
| 0.20Δ | $38 | −0.22 | $1.00 Nov 9 | $100.00 | $3,800 | 2.63% | 14.3% | $37.00 | 1,580 | 6 |
Snapshot #8444 · session 2026-11-09 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 67
Covered calls on B
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $46 | 0.27 | $0.85 Nov 9 | $85.00 | 2.01% | 22.9% | 10.84% | 123.6% | 2 | 1 |
| 0.20Δ | $47 | 0.22 | $0.58 Nov 9 | $58.00 | 1.37% | 15.7% | 12.56% | 143.3% | 2 | 132 |
Snapshot #8444 · session 2026-11-09 · captured 22:11 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 | $47 | 0.31 | $1.35 Nov 9 | $135.00 | 3.19% | 17.4% | 14.38% | 78.4% | 2,555 | 87 |
| 0.20Δ | $50 | 0.20 | $0.80 Nov 9 | $80.00 | 1.89% | 10.3% | 20.18% | 109.9% | 13,139 | 265 |
Snapshot #8444 · session 2026-11-09 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 67
B volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 41.1%session 2026-11-09
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- Ex-div Nov 30, 2026 · $0.18 declaredchecked Nov 9, 2026
- Open interest, stored window
- 73,246 contractssession 2026-11-09
- Largest open-interest line
- $37 put · Jan 15 · 15,738
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #222 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 (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.