GOOG wheel: cash-secured put & covered-call yields
Alphabet Inc. Class C Capital Stock · Technology · $295.35 close on Nov 12, 2026
What the Nov 12, 2026 close says about GOOG
At 34.1% implied volatility, the options market is pricing a one-standard-deviation move of about $31.61 (10.7%) in GOOG by Dec 18, 2026, 36 days out.
Selling the $285 put (−0.32Δ) for $7.02 means assignment would leave a cost basis of $277.98, 5.9% below the $295.35 close.
The 64-day 0.30Δ put pays 1.2× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.195 vs $0.128).
At 0.30Δ on the Dec 18 expiry the put yields 2.46% on its strike and the call 1.80% on spot: puts pay 1.4× what calls do on GOOG this session.
Moving down to the $275 put (−0.22Δ) buys 3.4% more room below spot and keeps 60% of the 0.30Δ premium.
Open interest in the stored window totals 226,410 contracts; the largest single line is the $350 call expiring Jan 15 with 13,709 (6.1% of the window).
GOOG goes ex-dividend on Dec 7, 2026 ($0.22 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 GOOG ranks #16 of 679 names in our universe.
Near-the-money options volume (11k) is 505% above its 5-session average.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on GOOG
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $285 | −0.32 | $7.02 Nov 12 | $702.00 | $28,500 | 2.46% | 25.0% | $277.98 | 3,845 | 98 |
| 0.20Δ | $275 | −0.22 | $4.20 Nov 12 | $420.00 | $27,500 | 1.53% | 15.5% | $270.80 | 4,173 | 321 |
Snapshot #9385 · session 2026-11-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $280 | −0.30 | $8.22 Nov 12 | $822.00 | $28,000 | 2.94% | 16.7% | $271.78 | 8,288 | 200 |
| 0.20Δ | $270 | −0.22 | $5.42 Nov 12 | $542.00 | $27,000 | 2.01% | 11.4% | $264.58 | 4,723 | 130 |
Snapshot #9385 · session 2026-11-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on GOOG
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $315 | 0.30 | $5.32 Nov 12 | $532.00 | 1.80% | 18.3% | 8.45% | 85.7% | 3,422 | 1,069 |
| 0.20Δ | $325 | 0.20 | $3.18 Nov 12 | $318.00 | 1.08% | 10.9% | 11.12% | 112.7% | 2,958 | 1,142 |
Snapshot #9385 · session 2026-11-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $320 | 0.32 | $7.43 Nov 12 | $743.00 | 2.52% | 14.3% | 10.86% | 61.9% | 11,263 | 704 |
| 0.20Δ | $335 | 0.20 | $4.33 Nov 12 | $433.00 | 1.47% | 8.4% | 14.89% | 84.9% | 7,520 | 423 |
Snapshot #9385 · session 2026-11-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
GOOG volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 34.1%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- Ex-div Dec 7, 2026 · $0.22 declaredchecked Nov 9, 2026
- Open interest, stored window
- 226,410 contractssession 2026-11-12
- Largest open-interest line
- $350 call · Jan 15 · 13,709
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #16 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.
- We are building our own daily implied-volatility history (34 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.