FRO wheel: cash-secured put & covered-call yields
Frontline Plc · $59.19 close on Oct 12, 2026
What the Oct 12, 2026 close says about FRO
At 55.9% implied volatility, the options market is pricing a one-standard-deviation move of about $10.82 (18.3%) in FRO by Nov 20, 2026, 39 days out.
Selling the $54.20 put (−0.29Δ) for $2.20 means assignment would leave a cost basis of $52.00, 12.1% below the $59.19 close.
The 67-day 0.30Δ put pays 2.2× the premium of the 39-day one for 1.7× the time — more premium per day on the 67-day contract ($0.072 vs $0.056).
Moving down to the $50 put (−0.17Δ) buys 7.1% more room below spot and keeps 50% of the 0.30Δ premium.
Open interest in the stored window totals 22,536 contracts; the largest single line is the $59.20 call expiring Nov 20 with 10,445 (46.3% of the window).
By options volume FRO ranks #9 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 FRO
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $54.20 | −0.29 | $2.20 Oct 12 | $220.00 | $5,420 | 4.06% | 38.0% | $52.00 | 1,773 | 7,580 |
| 0.20Δ | $50 | −0.17 | $1.10 Oct 12 | $110.00 | $5,000 | 2.20% | 20.6% | $48.90 | 367 | 161 |
Snapshot #2802 · 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 | $55 | −0.35 | $4.80 Oct 12 | $480.00 | $5,500 | 8.73% | 47.5% | $50.20 | 251 | 20 |
| 0.20Δ | $50 | −0.21 | $2.10 Oct 12 | $210.00 | $5,000 | 4.20% | 22.9% | $47.90 | 33 | 4 |
Snapshot #2802 · session 2026-10-12 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 67
Covered calls on FRO
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $74.20 | 0.17 | $1.05 Oct 12 | $105.00 | 1.77% | 16.6% | 27.13% | 253.9% | 79 | 45 |
Snapshot #2802 · 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 | $70 | 0.29 | $2.17 Oct 12 | $217.00 | 3.67% | 20.0% | 21.93% | 119.5% | 17 | 29 |
| 0.20Δ | $75 | 0.19 | $1.50 Oct 12 | $150.00 | 2.53% | 13.8% | 29.24% | 159.3% | 8 | 5 |
Snapshot #2802 · session 2026-10-12 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 67
FRO volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 55.9%session 2026-10-12
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Oct 12, 2026
- Open interest, stored window
- 22,536 contractssession 2026-10-12
- Largest open-interest line
- $59.20 call · Nov 20 · 10,445
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #9 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 (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.