CRWD wheel: cash-secured put & covered-call yields
CrowdStrike Holdings, Inc. Class A Common Stock · Technology · $229.87 close on Nov 12, 2026
What the Nov 12, 2026 close says about CRWD
At 69.8% implied volatility, the options market is pricing a one-standard-deviation move of about $50.42 (21.9%) in CRWD by Dec 18, 2026, 36 days out.
Selling the $210 put (−0.30Δ) for $11.02 means assignment would leave a cost basis of $198.98, 13.4% below the $229.87 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 ($0.306 vs $0.218).
At 0.30Δ on the Dec 18 expiry the put yields 5.25% on its strike and the call 3.37% on spot: puts pay 1.6× what calls do on CRWD this session.
Moving down to the $195 put (−0.20Δ) buys 6.5% more room below spot and keeps 63% of the 0.30Δ premium.
Open interest in the stored window totals 139,927 contracts; the largest single line is the $205 put expiring Dec 18 with 13,019 (9.3% of the window).
By options volume CRWD ranks #60 of 679 names in our universe.
Near-the-money options volume (1.1k) is 373% 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 CRWD
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $210 | −0.30 | $11.02 Nov 12 | $1,102.00 | $21,000 | 5.25% | 53.2% | $198.98 | 4,816 | 20 |
| 0.20Δ | $195 | −0.20 | $6.90 Nov 12 | $690.00 | $19,500 | 3.54% | 35.9% | $188.10 | 975 | 18 |
Snapshot #9347 · 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 | $207.50 | −0.30 | $13.93 Nov 12 | $1,393.00 | $20,750 | 6.71% | 38.3% | $193.57 | 238 | 3 |
| 0.20Δ | $192.50 | −0.22 | $9.11 Nov 12 | $911.00 | $19,250 | 4.73% | 27.0% | $183.39 | 461 | 1 |
Snapshot #9347 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on CRWD
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $265 | 0.30 | $7.75 Nov 12 | $775.00 | 3.37% | 34.2% | 18.65% | 189.1% | 795 | 16 |
| 0.20Δ | $282.50 | 0.20 | $4.55 Nov 12 | $455.00 | 1.98% | 20.1% | 24.87% | 252.2% | 360 | 1 |
Snapshot #9347 · 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 | $272.50 | 0.30 | $8.37 Nov 12 | $837.00 | 3.64% | 20.8% | 22.19% | 126.5% | 506 | 1 |
| 0.20Δ | $300 | 0.19 | $5.65 Nov 12 | $565.00 | 2.46% | 14.0% | 32.97% | 188.0% | 3,285 | 111 |
Snapshot #9347 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
CRWD volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 69.8%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 139,927 contractssession 2026-11-12
- Largest open-interest line
- $205 put · Dec 18 · 13,019
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #60 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.
- 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.