CRDO wheel: cash-secured put & covered-call yields
Credo Technology Group Holding Ltd Ordinary Shares · Technology · $192.67 close on Sep 28, 2026
What the Sep 28, 2026 close says about CRDO
At 73.4% implied volatility, the options market is pricing a one-standard-deviation move of about $41.88 (21.7%) in CRDO by Oct 30, 2026, 32 days out.
Selling the $175 put (−0.28Δ) for $8.48 means assignment would leave a cost basis of $166.52, 13.6% below the $192.67 close.
The 81-day 0.30Δ put pays 2.0× the premium of the 32-day one for 2.5× the time — more premium per day on the 32-day contract ($0.265 vs $0.205).
At 0.30Δ on the Oct 30 expiry the put yields 4.85% on its strike and the call 4.05% on spot: puts pay 1.2× what calls do on CRDO this session.
Moving down to the $165 put (−0.20Δ) buys 5.2% more room below spot and keeps 63% of the 0.30Δ premium.
Open interest in the stored window totals 15,841 contracts; the largest single line is the $250 call expiring Dec 18 with 1,421 (9.0% of the window).
By options volume CRDO ranks #88 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 CRDO
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $175 | −0.28 | $8.48 Sep 28 | $848.00 | $17,500 | 4.85% | 55.3% | $166.52 | 289 | 155 |
| 0.20Δ | $165 | −0.20 | $5.31 Sep 28 | $531.00 | $16,500 | 3.22% | 36.7% | $159.69 | 243 | 263 |
Snapshot #98 · session 2026-09-28 · captured 22:22 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 | $170 | −0.29 | $16.60 Sep 28 | $1,660.00 | $17,000 | 9.76% | 44.0% | $153.40 | 429 | 38 |
| 0.20Δ | $150 | −0.19 | $9.48 Sep 28 | $948.00 | $15,000 | 6.32% | 28.5% | $140.52 | 848 | 142 |
Snapshot #98 · session 2026-09-28 · captured 22:22 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on CRDO
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $225 | 0.30 | $7.81 Sep 28 | $781.00 | 4.05% | 46.2% | 20.83% | 237.6% | 78 | 16 |
| 0.20Δ | $240 | 0.21 | $5.10 Sep 28 | $510.00 | 2.65% | 30.2% | 27.21% | 310.4% | 118 | 11 |
Snapshot #98 · session 2026-09-28 · captured 22:22 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 | $260 | 0.29 | $12.10 Sep 28 | $1,210.00 | 6.28% | 28.3% | 41.23% | 185.8% | 168 | 24 |
| 0.20Δ | $280 | 0.24 | $9.60 Sep 28 | $960.00 | 4.98% | 22.5% | 50.31% | 226.7% | 753 | 87 |
Snapshot #98 · session 2026-09-28 · captured 22:22 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
CRDO volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 73.4%session 2026-09-28
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 15,841 contractssession 2026-09-28
- Largest open-interest line
- $250 call · Dec 18 · 1,421
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #88 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.