BDX wheel: cash-secured put & covered-call yields
Becton, Dickinson and Co. · Healthcare · $218.03 close on Nov 13, 2026
What the Nov 13, 2026 close says about BDX
At 3.6% implied volatility, the options market is pricing a one-standard-deviation move of about $2.42 (1.1%) in BDX by Dec 18, 2026, 35 days out.
Selling the $210 put (−0.35Δ) for $3.60 means assignment would leave a cost basis of $206.40, 5.3% below the $218.03 close.
Moving down to the $200 put (−0.18Δ) buys 4.6% more room below spot and keeps 44% of the 0.30Δ premium.
Open interest in the stored window totals 3,334 contracts; the largest single line is the $250 call expiring Jan 15 with 1,074 (32.2% of the window).
BDX goes ex-dividend on Dec 10, 2026 ($1.06 declared), inside the Dec 18 covered-call window. A short call that is in the money before an ex-date can be assigned early.
By options volume BDX ranks #156 of 679 names in our universe.
Near-the-money options volume (58) is 65% below its 4-session average.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on BDX
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $210 | −0.35 | $3.60 Nov 13 | $360.00 | $21,000 | 1.71% | 17.9% | $206.40 | 17 | 6 |
| 0.20Δ | $200 | −0.18 | $1.60 Nov 13 | $160.00 | $20,000 | 0.80% | 8.3% | $198.40 | 33 | 1 |
Snapshot #9602 · session 2026-11-13 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $200 | −0.22 | $2.75 Nov 13 | $275.00 | $20,000 | 1.38% | 8.0% | $197.25 | 126 | 2 |
Snapshot #9602 · session 2026-11-13 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 63
Covered calls on BDX
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $230 | 0.23 | $2.35 Nov 13 | $235.00 | 1.08% | 11.2% | 6.57% | 68.5% | 35 | 7 |
Snapshot #9602 · session 2026-11-13 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $230 | 0.30 | $4.66 Nov 13 | $466.00 | 2.14% | 12.4% | 7.63% | 44.2% | 29 | 2 |
| 0.20Δ | $240 | 0.20 | $2.00 Nov 13 | $200.00 | 0.92% | 5.3% | 10.99% | 63.7% | 29 | 5 |
Snapshot #9602 · session 2026-11-13 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 63
BDX volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 3.6%session 2026-11-13
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- Ex-div Dec 10, 2026 · $1.06 declaredchecked Nov 9, 2026
- Open interest, stored window
- 3,334 contractssession 2026-11-13
- Largest open-interest line
- $250 call · Jan 15 · 1,074
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #156 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.
- No contract near 0.30Δ traded this session
- We are building our own daily implied-volatility history (5 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.