BA wheel: cash-secured put & covered-call yields
Boeing Company · Industrials · $184.39 close on Sep 28, 2026
What the Sep 28, 2026 close says about BA
At 37.6% implied volatility, the options market is pricing a one-standard-deviation move of about $20.52 (11.1%) in BA by Oct 30, 2026, 32 days out.
Selling the $175 put (−0.28Δ) for $3.80 means assignment would leave a cost basis of $171.20, 7.2% below the $184.39 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 ($0.119 vs $0.086).
At 0.30Δ on the Oct 30 expiry the put yields 2.17% on its strike and the call 1.55% on spot: puts pay 1.4× what calls do on BA this session.
Moving down to the $170 put (−0.19Δ) buys 2.7% more room below spot and keeps 63% of the 0.30Δ premium.
Open interest in the stored window totals 36,461 contracts; the largest single line is the $180 put expiring Dec 18 with 4,846 (13.3% of the window).
By options volume BA ranks #45 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 BA
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $175 | −0.28 | $3.80 Sep 28 | $380.00 | $17,500 | 2.17% | 24.8% | $171.20 | 374 | 305 |
| 0.20Δ | $170 | −0.19 | $2.40 Sep 28 | $240.00 | $17,000 | 1.41% | 16.1% | $167.60 | 114 | 117 |
Snapshot #72 · 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 | $175 | −0.32 | $7.00 Sep 28 | $700.00 | $17,500 | 4.00% | 18.0% | $168.00 | 3,828 | 188 |
| 0.20Δ | $165 | −0.20 | $3.80 Sep 28 | $380.00 | $16,500 | 2.30% | 10.4% | $161.20 | 1,419 | 1,087 |
Snapshot #72 · session 2026-09-28 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on BA
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $200 | 0.26 | $2.85 Sep 28 | $285.00 | 1.55% | 17.6% | 10.01% | 114.2% | 389 | 380 |
| 0.20Δ | $205 | 0.20 | $2.20 Sep 28 | $220.00 | 1.19% | 13.6% | 12.37% | 141.1% | 200 | 372 |
Snapshot #72 · 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 | $205 | 0.31 | $5.60 Sep 28 | $560.00 | 3.04% | 13.7% | 14.21% | 64.1% | 599 | 1,938 |
| 0.20Δ | $215 | 0.21 | $3.70 Sep 28 | $370.00 | 2.01% | 9.0% | 18.61% | 83.8% | 2,019 | 142 |
Snapshot #72 · session 2026-09-28 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
BA volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 37.6%session 2026-09-28
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 36,461 contractssession 2026-09-28
- Largest open-interest line
- $180 put · Dec 18 · 4,846
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #45 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.
- 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.