FAST wheel: cash-secured put & covered-call yields
Fastenal Co · Consumer discretionary · $52.00 close on Oct 14, 2026
What the Oct 14, 2026 close says about FAST
At 28.7% implied volatility, the options market is pricing a one-standard-deviation move of about $4.74 (9.1%) in FAST by Nov 20, 2026, 37 days out.
Selling the $50 put (−0.29Δ) for $1.00 means assignment would leave a cost basis of $49.00, 5.8% below the $52.00 close.
The 65-day 0.30Δ put pays 1.9× the premium of the 37-day one for 1.8× the time — more premium per day on the 65-day contract ($0.028 vs $0.027).
Moving down to the $47.50 put (−0.16Δ) buys 4.8% more room below spot and keeps 50% of the 0.30Δ premium.
Open interest in the stored window totals 24,532 contracts; the largest single line is the $52.50 call expiring Nov 20 with 4,659 (19.0% of the window).
By options volume FAST ranks #30 of 572 names in our universe.
Near-the-money options volume (3.6k) is 30% above its 2-session average.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on FAST
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $50 | −0.29 | $1.00 Oct 14 | $100.00 | $5,000 | 2.00% | 19.7% | $49.00 | 1,277 | 522 |
| 0.20Δ | $47.50 | −0.16 | $0.50 Oct 14 | $50.00 | $4,750 | 1.05% | 10.4% | $47.00 | 1,161 | 810 |
Snapshot #3382 · session 2026-10-14 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 37
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $50 | −0.32 | $1.85 Oct 14 | $185.00 | $5,000 | 3.70% | 20.8% | $48.15 | 440 | 3 |
| 0.20Δ | $47.50 | −0.20 | $0.75 Oct 14 | $75.00 | $4,750 | 1.58% | 8.9% | $46.75 | 1,340 | 26 |
Snapshot #3382 · session 2026-10-14 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 65
Covered calls on FAST
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $55 | 0.24 | $0.55 Oct 14 | $55.00 | 1.06% | 10.4% | 6.83% | 67.3% | 4,001 | 214 |
Snapshot #3382 · session 2026-10-14 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 37
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $55 | 0.32 | $0.97 Oct 14 | $97.00 | 1.87% | 10.5% | 7.63% | 42.9% | 2,639 | 67 |
| 0.20Δ | $57.50 | 0.18 | $0.50 Oct 14 | $50.00 | 0.96% | 5.4% | 11.54% | 64.8% | 3,978 | 9 |
Snapshot #3382 · session 2026-10-14 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 65
FAST volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 28.7%session 2026-10-14
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Oct 12, 2026
- Open interest, stored window
- 24,532 contractssession 2026-10-14
- Largest open-interest line
- $52.50 call · Nov 20 · 4,659
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #30 of 572 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 (3 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.