DVN wheel: cash-secured put & covered-call yields
Devon Energy Corporation · Energy · $47.98 close on Oct 5, 2026
What the Oct 5, 2026 close says about DVN
At 37.4% implied volatility, the options market is pricing a one-standard-deviation move of about $5.31 (11.1%) in DVN by Nov 6, 2026, 32 days out.
Open interest in the stored window totals 21,297 contracts; the largest single line is the $55 call expiring Dec 18 with 5,821 (27.3% of the window).
By options volume DVN ranks #193 of 514 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 DVN
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $44 | −0.19 | $0.63 Oct 5 | $63.00 | $4,400 | 1.43% | 16.3% | $43.37 | 151 | 17 |
Snapshot #1382 · session 2026-10-05 · 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 | $45 | −0.31 | $1.63 Oct 5 | $163.00 | $4,500 | 3.62% | 17.9% | $43.37 | 1,183 | 7 |
| 0.20Δ | $42.50 | −0.20 | $0.96 Oct 5 | $96.00 | $4,250 | 2.26% | 11.1% | $41.54 | 1,244 | 30 |
Snapshot #1382 · session 2026-10-05 · captured 22:12 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 74
Covered calls on DVN
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $51 | 0.32 | $1.12 Oct 5 | $112.00 | 2.33% | 26.6% | 8.63% | 98.4% | 55 | 33 |
| 0.20Δ | $53 | 0.22 | $0.72 Oct 5 | $72.00 | 1.50% | 17.1% | 11.96% | 136.5% | 176 | 12 |
Snapshot #1382 · session 2026-10-05 · 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 | $52.50 | 0.33 | $1.48 Oct 5 | $148.00 | 3.08% | 15.2% | 12.51% | 61.7% | 2,104 | 186 |
| 0.20Δ | $55 | 0.23 | $1.08 Oct 5 | $108.00 | 2.25% | 11.1% | 16.88% | 83.3% | 5,821 | 52 |
Snapshot #1382 · session 2026-10-05 · captured 22:12 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 74
DVN volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 37.4%session 2026-10-05
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Oct 5, 2026
- Open interest, stored window
- 21,297 contractssession 2026-10-05
- Largest open-interest line
- $55 call · Dec 18 · 5,821
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #193 of 514 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 (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.