BABA wheel: cash-secured put & covered-call yields
Alibaba Group Holding Limited American Depositary Shares, each represents eight Ordinary Shares · $101.52 close on Nov 11, 2026
What the Nov 11, 2026 close says about BABA
At 47.0% implied volatility, the options market is pricing a one-standard-deviation move of about $13.67 (13.5%) in BABA by Dec 11, 2026, 30 days out.
Selling the $96 put (−0.31Δ) for $2.80 means assignment would leave a cost basis of $93.20, 8.2% below the $101.52 close.
The 65-day 0.30Δ put pays 1.4× the premium of the 30-day one for 2.2× the time — more premium per day on the 30-day contract ($0.093 vs $0.062).
At 0.30Δ on the Dec 11 expiry the put yields 2.92% on its strike and the call 2.56% on spot: puts pay 1.1× what calls do on BABA this session.
Moving down to the $92 put (−0.20Δ) buys 3.9% more room below spot and keeps 58% of the 0.30Δ premium.
Open interest in the stored window totals 158,980 contracts; the largest single line is the $120 call expiring Jan 15 with 25,642 (16.1% of the window).
By options volume BABA ranks #100 of 679 names in our universe.
Near-the-money options volume (24k) is 4323% 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 BABA
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $96 | −0.31 | $2.80 Nov 11 | $280.00 | $9,600 | 2.92% | 35.5% | $93.20 | 47 | 1 |
| 0.20Δ | $92 | −0.20 | $1.63 Nov 11 | $163.00 | $9,200 | 1.77% | 21.6% | $90.37 | 5 | 4 |
Snapshot #9035 · session 2026-11-11 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $95 | −0.31 | $4.00 Nov 11 | $400.00 | $9,500 | 4.21% | 23.6% | $91.00 | 11,511 | 49 |
| 0.20Δ | $90 | −0.21 | $2.44 Nov 11 | $244.00 | $9,000 | 2.71% | 15.2% | $87.56 | 11,211 | 120 |
Snapshot #9035 · session 2026-11-11 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 65
Covered calls on BABA
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $110 | 0.31 | $2.60 Nov 11 | $260.00 | 2.56% | 31.2% | 10.91% | 132.8% | 75 | 6 |
| 0.20Δ | $115 | 0.21 | $1.58 Nov 11 | $158.00 | 1.56% | 18.9% | 14.83% | 180.5% | 1,019 | 15 |
Snapshot #9035 · session 2026-11-11 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $115 | 0.29 | $3.22 Nov 11 | $322.00 | 3.17% | 17.8% | 16.45% | 92.4% | 6,385 | 95 |
| 0.20Δ | $120 | 0.22 | $2.28 Nov 11 | $228.00 | 2.25% | 12.6% | 20.45% | 114.8% | 25,642 | 1,070 |
Snapshot #9035 · session 2026-11-11 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 65
BABA volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 47.0%session 2026-11-11
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 158,980 contractssession 2026-11-11
- Largest open-interest line
- $120 call · Jan 15 · 25,642
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #100 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.