DUK wheel: cash-secured put & covered-call yields
Duke Energy Corporation · Utilities · $114.21 close on Sep 29, 2026
What the Sep 29, 2026 close says about DUK
At 19.9% implied volatility, the options market is pricing a one-standard-deviation move of about $8.56 (7.5%) in DUK by Nov 20, 2026, 52 days out.
Selling the $110 put (−0.32Δ) for $1.74 means assignment would leave a cost basis of $108.26, 5.2% below the $114.21 close.
The 80-day 0.30Δ put pays 1.3× the premium of the 52-day one for 1.5× the time — more premium per day on the 52-day contract ($0.033 vs $0.029).
Moving down to the $105 put (−0.16Δ) buys 4.4% more room below spot and keeps 45% of the 0.30Δ premium.
Open interest in the stored window totals 8,433 contracts; the largest single line is the $120 call expiring Dec 18 with 1,527 (18.1% of the window).
By options volume DUK ranks #170 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 DUK
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $110 | −0.32 | $1.74 Sep 29 | $174.00 | $11,000 | 1.58% | 11.1% | $108.26 | 245 | 146 |
| 0.20Δ | $105 | −0.16 | $0.79 Sep 29 | $79.00 | $10,500 | 0.75% | 5.3% | $104.21 | 86 | 15 |
Snapshot #370 · session 2026-09-29 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 52
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $110 | −0.34 | $2.34 Sep 29 | $234.00 | $11,000 | 2.13% | 9.7% | $107.66 | 1,447 | 260 |
| 0.20Δ | $105 | −0.19 | $1.35 Sep 29 | $135.00 | $10,500 | 1.29% | 5.9% | $103.65 | 362 | 6 |
Snapshot #370 · session 2026-09-29 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 80
Covered calls on DUK
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $120 | 0.23 | $1.20 Sep 29 | $120.00 | 1.05% | 7.4% | 6.12% | 43.0% | 222 | 44 |
Snapshot #370 · session 2026-09-29 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 52
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $120 | 0.29 | $1.80 Sep 29 | $180.00 | 1.58% | 7.2% | 6.65% | 30.3% | 1,527 | 255 |
| 0.20Δ | $125 | 0.18 | $0.79 Sep 29 | $79.00 | 0.69% | 3.2% | 10.14% | 46.3% | 1,268 | 11 |
Snapshot #370 · session 2026-09-29 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 80
DUK volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 19.9%session 2026-09-29
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 8,433 contractssession 2026-09-29
- Largest open-interest line
- $120 call · Dec 18 · 1,527
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #170 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.
- No contract near 0.30Δ traded this session
- We are building our own daily implied-volatility history (2 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.