DHR wheel: cash-secured put & covered-call yields
Danaher Corporation · Technology · $224.43 close on Oct 19, 2026
What the Oct 19, 2026 close says about DHR
At 40.1% implied volatility, the options market is pricing a one-standard-deviation move of about $26.62 (11.9%) in DHR by Nov 20, 2026, 32 days out.
Selling the $217.50 put (−0.35Δ) for $6.00 means assignment would leave a cost basis of $211.50, 5.8% below the $224.43 close.
The 60-day 0.30Δ put pays 1.0× the premium of the 32-day one for 1.9× the time — more premium per day on the 32-day contract ($0.188 vs $0.095).
At 0.30Δ on the Nov 20 expiry the put yields 2.76% on its strike and the call 2.09% on spot: puts pay 1.3× what calls do on DHR this session.
Moving down to the $200 put (−0.16Δ) buys 7.8% more room below spot and keeps 35% of the 0.30Δ premium.
Open interest in the stored window totals 13,351 contracts; the largest single line is the $180 put expiring Dec 18 with 1,089 (8.2% of the window).
By options volume DHR ranks #160 of 608 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 DHR
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $217.50 | −0.35 | $6.00 Oct 19 | $600.00 | $21,750 | 2.76% | 31.5% | $211.50 | 0 | 2 |
| 0.20Δ | $200 | −0.16 | $2.12 Oct 19 | $212.00 | $20,000 | 1.06% | 12.1% | $197.88 | 383 | 108 |
Snapshot #4213 · session 2026-10-19 · captured 22:12 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 | $210 | −0.28 | $5.70 Oct 19 | $570.00 | $21,000 | 2.71% | 16.5% | $204.30 | 537 | 4 |
| 0.20Δ | $200 | −0.18 | $3.30 Oct 19 | $330.00 | $20,000 | 1.65% | 10.0% | $196.70 | 537 | 108 |
Snapshot #4213 · session 2026-10-19 · captured 22:12 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 60
Covered calls on DHR
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $240 | 0.30 | $4.68 Oct 19 | $468.00 | 2.09% | 23.8% | 9.02% | 102.9% | 846 | 66 |
| 0.20Δ | $250 | 0.21 | $2.60 Oct 19 | $260.00 | 1.16% | 13.2% | 12.55% | 143.2% | 833 | 13 |
Snapshot #4213 · session 2026-10-19 · captured 22:12 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 | $250 | 0.25 | $5.10 Oct 19 | $510.00 | 2.27% | 13.8% | 13.67% | 83.1% | 1,056 | 2 |
| 0.20Δ | $260 | 0.19 | $2.74 Oct 19 | $274.00 | 1.22% | 7.4% | 17.07% | 103.8% | 563 | 259 |
Snapshot #4213 · session 2026-10-19 · captured 22:12 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 60
DHR volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 40.1%session 2026-10-19
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Oct 19, 2026
- Open interest, stored window
- 13,351 contractssession 2026-10-19
- Largest open-interest line
- $180 put · Dec 18 · 1,089
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #160 of 608 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.