HOOD wheel: cash-secured put & covered-call yields
Robinhood Markets, Inc. Class A Common Stock · Financials · $116.46 close on Sep 28, 2026
What the Sep 28, 2026 close says about HOOD
At 60.5% implied volatility, the options market is pricing a one-standard-deviation move of about $20.87 (17.9%) in HOOD by Oct 30, 2026, 32 days out.
Selling the $107 put (−0.29Δ) for $4.20 means assignment would leave a cost basis of $102.80, 11.7% below the $116.46 close.
The 81-day 0.30Δ put pays 1.8× the premium of the 32-day one for 2.5× the time — more premium per day on the 32-day contract ($0.131 vs $0.093).
At 0.30Δ on the Oct 30 expiry the put yields 3.93% on its strike and the call 3.35% on spot: puts pay 1.2× what calls do on HOOD this session.
Moving down to the $100 put (−0.18Δ) buys 6.0% more room below spot and keeps 53% of the 0.30Δ premium.
Open interest in the stored window totals 107,954 contracts; the largest single line is the $100 put expiring Dec 18 with 16,346 (15.1% of the window).
By options volume HOOD ranks #39 of 441 names in our universe.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on HOOD
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $107 | −0.29 | $4.20 Sep 28 | $420.00 | $10,700 | 3.93% | 44.8% | $102.80 | 158 | 23 |
| 0.20Δ | $100 | −0.18 | $2.23 Sep 28 | $223.00 | $10,000 | 2.23% | 25.4% | $97.77 | 963 | 348 |
Snapshot #140 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $105 | −0.30 | $7.53 Sep 28 | $753.00 | $10,500 | 7.17% | 32.3% | $97.47 | 1,787 | 56 |
| 0.20Δ | $95 | −0.20 | $4.30 Sep 28 | $430.00 | $9,500 | 4.53% | 20.4% | $90.70 | 1,918 | 119 |
Snapshot #140 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on HOOD
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $131 | 0.30 | $3.90 Sep 28 | $390.00 | 3.35% | 38.2% | 15.83% | 180.6% | 802 | 59 |
| 0.20Δ | $140 | 0.20 | $2.28 Sep 28 | $228.00 | 1.96% | 22.3% | 22.17% | 252.9% | 1,704 | 182 |
Snapshot #140 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $145 | 0.29 | $5.85 Sep 28 | $585.00 | 5.02% | 22.6% | 29.53% | 133.1% | 3,133 | 37 |
| 0.20Δ | $160 | 0.20 | $3.40 Sep 28 | $340.00 | 2.92% | 13.2% | 40.31% | 181.6% | 1,376 | 18 |
Snapshot #140 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
HOOD volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 60.5%session 2026-09-28
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 107,954 contractssession 2026-09-28
- Largest open-interest line
- $100 put · Dec 18 · 16,346
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #39 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.
- We are building our own daily implied-volatility history (1 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.