BP wheel: cash-secured put & covered-call yields
BP p.l.c. · $46.25 close on Oct 9, 2026
What the Oct 9, 2026 close says about BP
At 32.8% implied volatility, the options market is pricing a one-standard-deviation move of about $4.69 (10.1%) in BP by Nov 13, 2026, 35 days out.
Open interest in the stored window totals 26,842 contracts; the largest single line is the $44 put expiring Dec 18 with 7,824 (29.1% of the window).
By options volume BP ranks #120 of 514 names in our universe.
Near-the-money options volume (139) is 72% 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 BP
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $43 | −0.24 | $0.60 Oct 9 | $60.00 | $4,300 | 1.40% | 14.6% | $42.40 | 5 | 1 |
Snapshot #2467 · session 2026-10-09 · 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 | $44 | −0.34 | $1.60 Oct 9 | $160.00 | $4,400 | 3.64% | 19.0% | $42.40 | 7,824 | 5 |
| 0.20Δ | $42 | −0.24 | $1.00 Oct 9 | $100.00 | $4,200 | 2.38% | 12.4% | $41.00 | 963 | 11 |
Snapshot #2467 · session 2026-10-09 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 70
Covered calls on BP
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $49 | 0.31 | $1.05 Oct 9 | $105.00 | 2.27% | 23.7% | 8.22% | 85.7% | 53 | 30 |
| 0.20Δ | $50 | 0.21 | $0.67 Oct 9 | $67.00 | 1.45% | 15.1% | 9.56% | 99.7% | 52 | 21 |
Snapshot #2467 · session 2026-10-09 · 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 | $50 | 0.31 | $1.21 Oct 9 | $121.00 | 2.62% | 13.6% | 10.72% | 55.9% | 3,708 | 43 |
| 0.20Δ | Unavailable2 | |||||||||
Snapshot #2467 · session 2026-10-09 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 70
BP volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 32.8%session 2026-10-09
- IV rank / IV percentile
- Unavailable3
- Next earnings
- Unavailable4
- Next ex-dividend
- None announcedchecked Oct 5, 2026
- Open interest, stored window
- 26,842 contractssession 2026-10-09
- Largest open-interest line
- $44 put · Dec 18 · 7,824
- Bid/ask spread
- Unavailable5
- Options liquidity rank
- #120 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
- No contract near 0.20Δ 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.