FIX wheel: cash-secured put & covered-call yields
Comfort Systems USA, Inc. · Industrials · $1,113.23 close on Nov 9, 2026
What the Nov 9, 2026 close says about FIX
At 72.6% implied volatility, the options market is pricing a one-standard-deviation move of about $264.22 (23.7%) in FIX by Dec 18, 2026, 39 days out.
Selling the $1020 put (−0.30Δ) for $66.70 means assignment would leave a cost basis of $953.30, 14.4% below the $1,113.23 close.
The 67-day 0.30Δ put pays 1.2× the premium of the 39-day one for 1.7× the time — more premium per day on the 39-day contract ($1.710 vs $1.239).
At 0.30Δ on the Dec 18 expiry the put yields 6.54% on its strike and the call 3.64% on spot: puts pay 1.8× what calls do on FIX this session.
Moving down to the $930 put (−0.19Δ) buys 8.1% more room below spot and keeps 53% of the 0.30Δ premium.
Open interest in the stored window totals 2,960 contracts; the largest single line is the $1000 put expiring Jan 15 with 204 (6.9% of the window).
FIX goes ex-dividend on Nov 12, 2026 ($1.00 declared), inside the Dec 18 covered-call window. A short call that is in the money before an ex-date can be assigned early.
By options volume FIX ranks #57 of 679 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 FIX
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $1020 | −0.30 | $66.70 Nov 9 | $6,670.00 | $102,000 | 6.54% | 61.2% | $953.30 | 35 | 1 |
| 0.20Δ | $930 | −0.19 | $35.35 Nov 9 | $3,535.00 | $93,000 | 3.80% | 35.6% | $894.65 | 12 | 1 |
Snapshot #8507 · session 2026-11-09 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 39
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $1000 | −0.30 | $83.00 Nov 9 | $8,300.00 | $100,000 | 8.30% | 45.2% | $917.00 | 204 | 2 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #8507 · session 2026-11-09 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 67
Covered calls on FIX
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $1280 | 0.30 | $40.50 Nov 9 | $4,050.00 | 3.64% | 34.0% | 18.62% | 174.3% | 41 | 1,004 |
| 0.20Δ | $1360 | 0.21 | $24.10 Nov 9 | $2,410.00 | 2.16% | 20.3% | 24.33% | 227.7% | 24 | 714 |
Snapshot #8507 · session 2026-11-09 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 39
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $1340 | 0.30 | $51.70 Nov 9 | $5,170.00 | 4.64% | 25.3% | 25.01% | 136.3% | 7 | 3 |
| 0.20Δ | $1500 | 0.17 | $21.70 Nov 9 | $2,170.00 | 1.95% | 10.6% | 36.69% | 199.9% | 52 | 2 |
Snapshot #8507 · session 2026-11-09 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 67
FIX volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 72.6%session 2026-11-09
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- Ex-div Nov 12, 2026 · $1.00 declaredchecked Nov 9, 2026
- Open interest, stored window
- 2,960 contractssession 2026-11-09
- Largest open-interest line
- $1000 put · Jan 15 · 204
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #57 of 679 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 (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.