GOOGL wheel: cash-secured put & covered-call yields
Alphabet Inc. Class A Common Stock · Technology · $298.70 close on Nov 12, 2026
What the Nov 12, 2026 close says about GOOGL
At 33.8% implied volatility, the options market is pricing a one-standard-deviation move of about $31.69 (10.6%) in GOOGL by Dec 18, 2026, 36 days out.
Selling the $285 put (−0.29Δ) for $6.30 means assignment would leave a cost basis of $278.70, 6.7% below the $298.70 close.
The 64-day 0.30Δ put pays 1.5× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.175 vs $0.147).
At 0.30Δ on the Dec 18 expiry the put yields 2.21% on its strike and the call 1.69% on spot: puts pay 1.3× what calls do on GOOGL this session.
Moving down to the $275 put (−0.19Δ) buys 3.3% more room below spot and keeps 59% of the 0.30Δ premium.
Open interest in the stored window totals 534,145 contracts; the largest single line is the $325 call expiring Jan 15 with 66,310 (12.4% of the window).
GOOGL 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 GOOGL ranks #19 of 679 names in our universe.
Near-the-money options volume (33k) is 1341% 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 GOOGL
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $285 | −0.29 | $6.30 Nov 12 | $630.00 | $28,500 | 2.21% | 22.4% | $278.70 | 5,381 | 850 |
| 0.20Δ | $275 | −0.19 | $3.70 Nov 12 | $370.00 | $27,500 | 1.35% | 13.6% | $271.30 | 6,758 | 847 |
Snapshot #9386 · 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 | $285 | −0.32 | $9.40 Nov 12 | $940.00 | $28,500 | 3.30% | 18.8% | $275.60 | 8,375 | 153 |
| 0.20Δ | $270 | −0.20 | $5.20 Nov 12 | $520.00 | $27,000 | 1.93% | 11.0% | $264.80 | 5,299 | 274 |
Snapshot #9386 · session 2026-11-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on GOOGL
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $320 | 0.28 | $5.05 Nov 12 | $505.00 | 1.69% | 17.1% | 8.82% | 89.4% | 9,116 | 2,283 |
| 0.20Δ | $330 | 0.19 | $3.10 Nov 12 | $310.00 | 1.04% | 10.5% | 11.52% | 116.8% | 11,934 | 2,398 |
Snapshot #9386 · 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 | $325 | 0.31 | $7.25 Nov 12 | $725.00 | 2.43% | 13.8% | 11.23% | 64.1% | 66,310 | 2,678 |
| 0.20Δ | $340 | 0.20 | $4.00 Nov 12 | $400.00 | 1.34% | 7.6% | 15.17% | 86.5% | 7,189 | 1,322 |
Snapshot #9386 · session 2026-11-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
GOOGL volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 33.8%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
- 534,145 contractssession 2026-11-12
- Largest open-interest line
- $325 call · Jan 15 · 66,310
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #19 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.