GIS wheel: cash-secured put & covered-call yields
General Mills, Inc. · Consumer staples · $32.16 close on Sep 30, 2026
What the Sep 30, 2026 close says about GIS
At 34.6% implied volatility, the options market is pricing a one-standard-deviation move of about $4.16 (12.9%) in GIS by Nov 20, 2026, 51 days out.
Selling the $30 put (−0.28Δ) for $0.77 means assignment would leave a cost basis of $29.23, 9.1% below the $32.16 close.
The 79-day 0.30Δ put pays 1.5× the premium of the 51-day one for 1.5× the time — about the same premium per day either way.
Open interest in the stored window totals 9,210 contracts; the largest single line is the $30 put expiring Dec 18 with 2,771 (30.1% of the window).
By options volume GIS ranks #165 of 441 names in our universe.
Near-the-money options volume (388) is 20% 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 GIS
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $30 | −0.28 | $0.77 Sep 30 | $77.00 | $3,000 | 2.57% | 18.4% | $29.23 | 322 | 168 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #638 · 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 | $30 | −0.31 | $1.15 Sep 30 | $115.00 | $3,000 | 3.83% | 17.7% | $28.85 | 2,771 | 119 |
| 0.20Δ | $27.50 | −0.16 | $0.43 Sep 30 | $43.00 | $2,750 | 1.56% | 7.2% | $27.07 | 570 | 43 |
Snapshot #638 · session 2026-09-30 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 79
Covered calls on GIS
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable2 | |||||||||
| 0.20Δ | $35 | 0.24 | $0.40 Sep 30 | $40.00 | 1.24% | 8.9% | 10.07% | 72.1% | 517 | 98 |
Snapshot #638 · 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 | $35 | 0.29 | $0.75 Sep 30 | $75.00 | 2.33% | 10.8% | 11.16% | 51.6% | 875 | 36 |
| 0.20Δ | $37.50 | 0.16 | $0.41 Sep 30 | $41.00 | 1.27% | 5.9% | 17.88% | 82.6% | 2,487 | 66 |
Snapshot #638 · session 2026-09-30 · captured 22:02 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 79
GIS volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 34.6%session 2026-09-30
- IV rank / IV percentile
- Unavailable3
- Next earnings
- Unavailable4
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 9,210 contractssession 2026-09-30
- Largest open-interest line
- $30 put · Dec 18 · 2,771
- Bid/ask spread
- Unavailable5
- Options liquidity rank
- #165 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
- No contract near 0.30Δ 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.