BA wheel: cash-secured put & covered-call yields
Boeing Company · Industrials · $171.55 close on Nov 12, 2026
What the Nov 12, 2026 close says about BA
At 31.5% implied volatility, the options market is pricing a one-standard-deviation move of about $16.98 (9.9%) in BA by Dec 18, 2026, 36 days out.
Selling the $165 put (−0.32Δ) for $3.70 means assignment would leave a cost basis of $161.30, 6.0% below the $171.55 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 ($0.103 vs $0.062).
At 0.30Δ on the Dec 18 expiry the put yields 2.24% on its strike and the call 2.13% on spot: puts and calls pay within 10% of each other on BA this session.
Moving down to the $160 put (−0.22Δ) buys 2.9% more room below spot and keeps 64% of the 0.30Δ premium.
Open interest in the stored window totals 130,820 contracts; the largest single line is the $200 call expiring Jan 15 with 18,024 (13.8% of the window).
By options volume BA ranks #102 of 679 names in our universe.
Near-the-money options volume (6.5k) is 1251% 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 BA
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $165 | −0.32 | $3.70 Nov 12 | $370.00 | $16,500 | 2.24% | 22.7% | $161.30 | 6,161 | 624 |
| 0.20Δ | $160 | −0.22 | $2.35 Nov 12 | $235.00 | $16,000 | 1.47% | 14.9% | $157.65 | 10,390 | 523 |
Snapshot #9317 · 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 | $160 | −0.26 | $3.97 Nov 12 | $397.00 | $16,000 | 2.48% | 14.2% | $156.03 | 4,390 | 456 |
| 0.20Δ | $155 | −0.20 | $2.78 Nov 12 | $278.00 | $15,500 | 1.79% | 10.2% | $152.22 | 11,282 | 92 |
Snapshot #9317 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on BA
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $180 | 0.34 | $3.65 Nov 12 | $365.00 | 2.13% | 21.6% | 7.05% | 71.5% | 4,423 | 265 |
| 0.20Δ | $190 | 0.17 | $1.47 Nov 12 | $147.00 | 0.86% | 8.7% | 11.61% | 117.7% | 6,706 | 2,389 |
Snapshot #9317 · 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 | $185 | 0.32 | $4.50 Nov 12 | $450.00 | 2.62% | 15.0% | 10.46% | 59.7% | 1,520 | 28 |
| 0.20Δ | $195 | 0.19 | $2.21 Nov 12 | $221.00 | 1.29% | 7.3% | 14.96% | 85.3% | 1,988 | 145 |
Snapshot #9317 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
BA volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 31.5%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 130,820 contractssession 2026-11-12
- Largest open-interest line
- $200 call · Jan 15 · 18,024
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #102 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.