EWT wheel: cash-secured put & covered-call yields
iShares MSCI Taiwan ETF · ETFs · $98.27 close on Nov 3, 2026
What the Nov 3, 2026 close says about EWT
At 55.5% implied volatility, the options market is pricing a one-standard-deviation move of about $19.14 (19.5%) in EWT by Dec 18, 2026, 45 days out.
Selling the $90 put (−0.27Δ) for $3.50 means assignment would leave a cost basis of $86.50, 12.0% below the $98.27 close.
The 73-day 0.30Δ put pays 1.3× the premium of the 45-day one for 1.6× the time — more premium per day on the 45-day contract ($0.078 vs $0.063).
At 0.30Δ on the Dec 18 expiry the put yields 3.89% on its strike and the call 2.69% on spot: puts pay 1.4× what calls do on EWT this session.
Moving down to the $85 put (−0.20Δ) buys 5.1% more room below spot and keeps 65% of the 0.30Δ premium.
Open interest in the stored window totals 74,190 contracts; the largest single line is the $125 call expiring Dec 18 with 15,173 (20.5% of the window).
By options volume EWT ranks #68 of 661 names in our universe.
Near-the-money options volume (1.6k) is 130% 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 EWT
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $90 | −0.27 | $3.50 Nov 3 | $350.00 | $9,000 | 3.89% | 31.5% | $86.50 | 7,497 | 93 |
| 0.20Δ | $85 | −0.20 | $2.27 Nov 3 | $227.00 | $8,500 | 2.67% | 21.7% | $82.73 | 1,064 | 35 |
Snapshot #7343 · session 2026-11-03 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 45
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $90 | −0.29 | $4.60 Nov 3 | $460.00 | $9,000 | 5.11% | 25.6% | $85.40 | 8,568 | 2,999 |
| 0.20Δ | $85 | −0.21 | $3.90 Nov 3 | $390.00 | $8,500 | 4.59% | 22.9% | $81.10 | 10,691 | 1,375 |
Snapshot #7343 · session 2026-11-03 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 73
Covered calls on EWT
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $110 | 0.27 | $2.64 Nov 3 | $264.00 | 2.69% | 21.8% | 14.62% | 118.6% | 762 | 7 |
| 0.20Δ | $115 | 0.20 | $1.42 Nov 3 | $142.00 | 1.44% | 11.7% | 18.47% | 149.8% | 659 | 11 |
Snapshot #7343 · session 2026-11-03 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 45
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $110 | 0.32 | $4.10 Nov 3 | $410.00 | 4.17% | 20.9% | 16.11% | 80.5% | 1,575 | 3 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #7343 · session 2026-11-03 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 73
EWT volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 55.5%session 2026-11-03
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Nov 2, 2026
- Open interest, stored window
- 74,190 contractssession 2026-11-03
- Largest open-interest line
- $125 call · Dec 18 · 15,173
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #68 of 661 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 (8 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.