HD wheel: cash-secured put & covered-call yields
Home Depot, Inc. · Consumer discretionary · $348.26 close on Nov 12, 2026
What the Nov 12, 2026 close says about HD
At 31.7% implied volatility, the options market is pricing a one-standard-deviation move of about $34.67 (10.0%) in HD by Dec 18, 2026, 36 days out.
Selling the $330 put (−0.27Δ) for $6.25 means assignment would leave a cost basis of $323.75, 7.0% below the $348.26 close.
The 64-day 0.30Δ put pays 1.3× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.174 vs $0.126).
At 0.30Δ on the Dec 18 expiry the put yields 1.89% on its strike and the call 1.81% on spot: puts and calls pay within 10% of each other on HD this session.
Moving down to the $320 put (−0.18Δ) buys 2.9% more room below spot and keeps 60% of the 0.30Δ premium.
Open interest in the stored window totals 41,654 contracts; the largest single line is the $320 put expiring Jan 15 with 3,085 (7.4% of the window).
By options volume HD ranks #235 of 679 names in our universe.
Near-the-money options volume (730) is 370% 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 HD
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $330 | −0.27 | $6.25 Nov 12 | $625.00 | $33,000 | 1.89% | 19.2% | $323.75 | 686 | 36 |
| 0.20Δ | $320 | −0.18 | $3.72 Nov 12 | $372.00 | $32,000 | 1.16% | 11.8% | $316.28 | 1,672 | 276 |
Snapshot #9390 · 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 | $330 | −0.30 | $8.05 Nov 12 | $805.00 | $33,000 | 2.44% | 13.9% | $321.95 | 1,129 | 10 |
| 0.20Δ | $320 | −0.21 | $5.68 Nov 12 | $568.00 | $32,000 | 1.77% | 10.1% | $314.32 | 3,085 | 27 |
Snapshot #9390 · session 2026-11-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on HD
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $365 | 0.32 | $6.29 Nov 12 | $629.00 | 1.81% | 18.3% | 6.61% | 67.0% | 187 | 17 |
| 0.20Δ | $375 | 0.22 | $3.90 Nov 12 | $390.00 | 1.12% | 11.4% | 8.80% | 89.2% | 677 | 12 |
Snapshot #9390 · 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 | $370 | 0.33 | $8.20 Nov 12 | $820.00 | 2.35% | 13.4% | 8.60% | 49.0% | 2,331 | 15 |
| 0.20Δ | $390 | 0.17 | $3.90 Nov 12 | $390.00 | 1.12% | 6.4% | 13.11% | 74.7% | 1,091 | 38 |
Snapshot #9390 · session 2026-11-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
HD volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 31.7%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 41,654 contractssession 2026-11-12
- Largest open-interest line
- $320 put · Jan 15 · 3,085
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #235 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.