GEN wheel: cash-secured put & covered-call yields
Gen Digital Inc. Common Stock · Technology · $22.02 close on Sep 30, 2026
What the Sep 30, 2026 close says about GEN
At 53.8% implied volatility, the options market is pricing a one-standard-deviation move of about $4.43 (20.1%) in GEN by Nov 20, 2026, 51 days out.
Selling the $20 put (−0.26Δ) for $0.87 means assignment would leave a cost basis of $19.13, 13.1% below the $22.02 close.
The 79-day 0.30Δ put pays 1.3× the premium of the 51-day one for 1.5× the time — more premium per day on the 51-day contract ($0.017 vs $0.015).
At 0.30Δ on the Nov 20 expiry the put yields 4.35% on its strike and the call 3.63% on spot: puts pay 1.2× what calls do on GEN this session.
Moving down to the $19 put (−0.19Δ) buys 4.5% more room below spot and keeps 63% of the 0.30Δ premium.
Open interest in the stored window totals 5,202 contracts; the largest single line is the $23 call expiring Nov 20 with 896 (17.2% of the window).
By options volume GEN ranks #250 of 441 names in our universe.
Near-the-money options volume (120) is 86% below 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 GEN
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $20 | −0.26 | $0.87 Sep 30 | $87.00 | $2,000 | 4.35% | 31.1% | $19.13 | 65 | 1 |
| 0.20Δ | $19 | −0.19 | $0.55 Sep 30 | $55.00 | $1,900 | 2.89% | 20.7% | $18.45 | 65 | 4 |
Snapshot #635 · session 2026-09-30 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 51
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $20 | −0.29 | $1.17 Sep 30 | $117.00 | $2,000 | 5.85% | 27.0% | $18.83 | 64 | 6 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #635 · session 2026-09-30 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 79
Covered calls on GEN
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $25 | 0.27 | $0.80 Sep 30 | $80.00 | 3.63% | 26.0% | 17.17% | 122.9% | 105 | 40 |
| 0.20Δ | $27 | 0.19 | $0.49 Sep 30 | $49.00 | 2.23% | 15.9% | 24.84% | 177.8% | 659 | 7 |
Snapshot #635 · session 2026-09-30 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 51
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $26 | 0.29 | $0.71 Sep 30 | $71.00 | 3.22% | 14.9% | 21.30% | 98.4% | 63 | 2 |
| 0.20Δ | $28 | 0.19 | $0.45 Sep 30 | $45.00 | 2.04% | 9.4% | 29.20% | 134.9% | 608 | 2 |
Snapshot #635 · session 2026-09-30 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 79
GEN volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 53.8%session 2026-09-30
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 5,202 contractssession 2026-09-30
- Largest open-interest line
- $23 call · Nov 20 · 896
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #250 of 441 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 (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.