FICO wheel: cash-secured put & covered-call yields
Fair Isaac Corporation · Industrials · $689.61 close on Oct 5, 2026
What the Oct 5, 2026 close says about FICO
At 68.4% implied volatility, the options market is pricing a one-standard-deviation move of about $167.47 (24.3%) in FICO by Nov 20, 2026, 46 days out.
Selling the $630 put (−0.30Δ) for $38.59 means assignment would leave a cost basis of $591.41, 14.2% below the $689.61 close.
The 74-day 0.30Δ put pays 0.9× the premium of the 46-day one for 1.6× the time — more premium per day on the 46-day contract ($0.839 vs $0.488).
At 0.30Δ on the Nov 20 expiry the put yields 6.13% on its strike and the call 2.67% on spot: puts pay 2.3× what calls do on FICO this session.
Moving down to the $590 put (−0.22Δ) buys 5.8% more room below spot and keeps 67% of the 0.30Δ premium.
Open interest in the stored window totals 3,750 contracts; the largest single line is the $500 put expiring Nov 20 with 638 (17.0% of the window).
By options volume FICO ranks #203 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 FICO
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $630 | −0.30 | $38.59 Oct 5 | $3,859.00 | $63,000 | 6.13% | 48.6% | $591.41 | 8 | 3 |
| 0.20Δ | $590 | −0.22 | $25.90 Oct 5 | $2,590.00 | $59,000 | 4.39% | 34.8% | $564.10 | 27 | 5 |
Snapshot #1396 · session 2026-10-05 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 46
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $600 | −0.26 | $36.11 Oct 5 | $3,611.00 | $60,000 | 6.02% | 29.7% | $563.89 | 35 | 2 |
| 0.20Δ | $560 | −0.18 | $29.95 Oct 5 | $2,995.00 | $56,000 | 5.35% | 26.4% | $530.05 | 6 | 1 |
Snapshot #1396 · session 2026-10-05 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 74
Covered calls on FICO
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $820 | 0.27 | $18.40 Oct 5 | $1,840.00 | 2.67% | 21.2% | 21.58% | 171.2% | 2 | 1 |
| 0.20Δ | $870 | 0.19 | $15.40 Oct 5 | $1,540.00 | 2.23% | 17.7% | 28.39% | 225.3% | 12 | 1 |
Snapshot #1396 · session 2026-10-05 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 46
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $900 | 0.20 | $19.50 Oct 5 | $1,950.00 | 2.83% | 13.9% | 33.34% | 164.4% | 57 | 2 |
Snapshot #1396 · session 2026-10-05 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 74
FICO volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 68.4%session 2026-10-05
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Oct 5, 2026
- Open interest, stored window
- 3,750 contractssession 2026-10-05
- Largest open-interest line
- $500 put · Nov 20 · 638
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #203 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.