BNY wheel: cash-secured put & covered-call yields
Bank of New York Mellon Corporation · Financials · $142.72 close on Oct 7, 2026
What the Oct 7, 2026 close says about BNY
At 28.7% implied volatility, the options market is pricing a one-standard-deviation move of about $14.22 (10.0%) in BNY by Nov 20, 2026, 44 days out.
Selling the $135 put (−0.26Δ) for $2.57 means assignment would leave a cost basis of $132.43, 7.2% below the $142.72 close.
At 0.30Δ on the Nov 20 expiry the put yields 1.90% on its strike and the call 1.58% on spot: puts pay 1.2× what calls do on BNY this session.
Moving down to the $130 put (−0.16Δ) buys 3.5% more room below spot and keeps 51% of the 0.30Δ premium.
Open interest in the stored window totals 4,439 contracts; the largest single line is the $155 call expiring Nov 20 with 664 (15.0% of the window).
By options volume BNY ranks #218 of 514 names in our universe.
Near-the-money options volume (141) is 52% below its 2-session average.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on BNY
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $135 | −0.26 | $2.57 Oct 7 | $257.00 | $13,500 | 1.90% | 15.8% | $132.43 | 54 | 8 |
| 0.20Δ | $130 | −0.16 | $1.30 Oct 7 | $130.00 | $13,000 | 1.00% | 8.3% | $128.70 | 111 | 60 |
Snapshot #1906 · session 2026-10-07 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 44
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $130 | −0.20 | $2.15 Oct 7 | $215.00 | $13,000 | 1.65% | 8.4% | $127.85 | 183 | 2 |
Snapshot #1906 · session 2026-10-07 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 72
Covered calls on BNY
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $150 | 0.30 | $2.25 Oct 7 | $225.00 | 1.58% | 13.1% | 6.68% | 55.4% | 541 | 54 |
| 0.20Δ | $155 | 0.18 | $1.15 Oct 7 | $115.00 | 0.81% | 6.7% | 9.41% | 78.1% | 664 | 2 |
Snapshot #1906 · session 2026-10-07 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 44
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $155 | 0.25 | $2.30 Oct 7 | $230.00 | 1.61% | 8.2% | 10.22% | 51.8% | 194 | 1 |
Snapshot #1906 · session 2026-10-07 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 72
BNY volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 28.7%session 2026-10-07
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Oct 5, 2026
- Open interest, stored window
- 4,439 contractssession 2026-10-07
- Largest open-interest line
- $155 call · Nov 20 · 664
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #218 of 514 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 (3 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.