CRDO wheel: cash-secured put & covered-call yields
Credo Technology Group Holding Ltd Ordinary Shares · Technology · $139.81 close on Nov 12, 2026
What the Nov 12, 2026 close says about CRDO
At 103.8% implied volatility, the options market is pricing a one-standard-deviation move of about $45.57 (32.6%) in CRDO by Dec 18, 2026, 36 days out.
Selling the $125 put (−0.30Δ) for $10.60 means assignment would leave a cost basis of $114.40, 18.2% below the $139.81 close.
The 64-day 0.30Δ put pays 1.3× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.294 vs $0.214).
At 0.30Δ on the Dec 18 expiry the put yields 8.48% on its strike and the call 4.94% on spot: puts pay 1.7× what calls do on CRDO this session.
Moving down to the $110 put (−0.18Δ) buys 10.7% more room below spot and keeps 53% of the 0.30Δ premium.
Open interest in the stored window totals 50,827 contracts; the largest single line is the $140 call expiring Jan 15 with 4,325 (8.5% of the window).
By options volume CRDO ranks #321 of 679 names in our universe.
Near-the-money options volume (605) is 419% 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 CRDO
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $125 | −0.30 | $10.60 Nov 12 | $1,060.00 | $12,500 | 8.48% | 86.0% | $114.40 | 631 | 18 |
| 0.20Δ | $110 | −0.18 | $5.67 Nov 12 | $567.00 | $11,000 | 5.15% | 52.3% | $104.33 | 504 | 28 |
Snapshot #9345 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $125 | −0.31 | $13.70 Nov 12 | $1,370.00 | $12,500 | 10.96% | 62.5% | $111.30 | 605 | 20 |
| 0.20Δ | $110 | −0.21 | $8.20 Nov 12 | $820.00 | $11,000 | 7.45% | 42.5% | $101.80 | 922 | 405 |
Snapshot #9345 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on CRDO
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $175 | 0.29 | $6.90 Nov 12 | $690.00 | 4.94% | 50.0% | 30.11% | 305.2% | 833 | 62 |
| 0.20Δ | $190 | 0.20 | $4.36 Nov 12 | $436.00 | 3.12% | 31.6% | 39.02% | 395.6% | 2,089 | 87 |
Snapshot #9345 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $185 | 0.31 | $9.10 Nov 12 | $910.00 | 6.51% | 37.1% | 38.83% | 221.5% | 454 | 4 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #9345 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
CRDO volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 103.8%session 2026-11-12
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 50,827 contractssession 2026-11-12
- Largest open-interest line
- $140 call · Jan 15 · 4,325
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #321 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 0.20Δ traded this session
- 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.