FLEX wheel: cash-secured put & covered-call yields
Flex Ltd. Ordinary Shares · Technology · $117.24 close on Oct 12, 2026
What the Oct 12, 2026 close says about FLEX
At 62.1% implied volatility, the options market is pricing a one-standard-deviation move of about $23.81 (20.3%) in FLEX by Nov 20, 2026, 39 days out.
Selling the $105 put (−0.27Δ) for $4.70 means assignment would leave a cost basis of $100.30, 14.4% below the $117.24 close.
The 95-day 0.30Δ put pays 1.7× the premium of the 39-day one for 2.4× the time — more premium per day on the 39-day contract ($0.121 vs $0.084).
At 0.30Δ on the Nov 20 expiry the put yields 4.48% on its strike and the call 4.47% on spot: puts and calls pay within 10% of each other on FLEX this session.
Moving down to the $100 put (−0.21Δ) buys 4.3% more room below spot and keeps 76% of the 0.30Δ premium.
Open interest in the stored window totals 23,561 contracts; the largest single line is the $170 call expiring Jan 15 with 3,478 (14.8% of the window).
By options volume FLEX ranks #23 of 572 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 FLEX
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $105 | −0.27 | $4.70 Oct 12 | $470.00 | $10,500 | 4.48% | 41.9% | $100.30 | 195 | 7 |
| 0.20Δ | $100 | −0.21 | $3.55 Oct 12 | $355.00 | $10,000 | 3.55% | 33.2% | $96.45 | 844 | 26 |
Snapshot #2801 · session 2026-10-12 · 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 | $105 | −0.30 | $7.95 Oct 12 | $795.00 | $10,500 | 7.57% | 29.1% | $97.05 | 105 | 3 |
| 0.20Δ | $90 | −0.16 | $3.47 Oct 12 | $347.00 | $9,000 | 3.86% | 14.8% | $86.53 | 481 | 12 |
Snapshot #2801 · session 2026-10-12 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 95
Covered calls on FLEX
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $135 | 0.29 | $5.24 Oct 12 | $524.00 | 4.47% | 41.8% | 19.62% | 183.6% | 202 | 80 |
| 0.20Δ | $145 | 0.22 | $3.02 Oct 12 | $302.00 | 2.58% | 24.1% | 26.25% | 245.7% | 400 | 4 |
Snapshot #2801 · session 2026-10-12 · 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 | $150 | 0.28 | $6.40 Oct 12 | $640.00 | 5.46% | 21.0% | 33.40% | 128.3% | 1,648 | 2 |
| 0.20Δ | $160 | 0.23 | $4.20 Oct 12 | $420.00 | 3.58% | 13.8% | 40.05% | 153.9% | 57 | 2 |
Snapshot #2801 · session 2026-10-12 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 95
FLEX volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 62.1%session 2026-10-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Oct 12, 2026
- Open interest, stored window
- 23,561 contractssession 2026-10-12
- Largest open-interest line
- $170 call · Jan 15 · 3,478
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #23 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.
- 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.