HOOD wheel: cash-secured put & covered-call yields
Robinhood Markets, Inc. Class A Common Stock · Financials · $81.35 close on Nov 12, 2026
What the Nov 12, 2026 close says about HOOD
At 66.7% implied volatility, the options market is pricing a one-standard-deviation move of about $17.05 (21.0%) in HOOD by Dec 18, 2026, 36 days out.
Selling the $75 put (−0.29Δ) for $3.65 means assignment would leave a cost basis of $71.35, 12.3% below the $81.35 close.
The 64-day 0.30Δ put pays 1.4× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.101 vs $0.081).
At 0.30Δ on the Dec 18 expiry the put yields 4.87% on its strike and the call 2.83% on spot: puts pay 1.7× what calls do on HOOD this session.
Moving down to the $70 put (−0.20Δ) buys 6.1% more room below spot and keeps 61% of the 0.30Δ premium.
Open interest in the stored window totals 167,008 contracts; the largest single line is the $100 call expiring Jan 15 with 14,252 (8.5% of the window).
By options volume HOOD ranks #14 of 679 names in our universe.
Near-the-money options volume (2.7k) is 16% 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 HOOD
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $75 | −0.29 | $3.65 Nov 12 | $365.00 | $7,500 | 4.87% | 49.3% | $71.35 | 9,693 | 271 |
| 0.20Δ | $70 | −0.20 | $2.21 Nov 12 | $221.00 | $7,000 | 3.16% | 32.0% | $67.79 | 4,727 | 596 |
Snapshot #9394 · 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 | $75 | −0.31 | $5.17 Nov 12 | $517.00 | $7,500 | 6.89% | 39.3% | $69.83 | 5,475 | 179 |
| 0.20Δ | $70 | −0.23 | $3.50 Nov 12 | $350.00 | $7,000 | 5.00% | 28.5% | $66.50 | 8,499 | 103 |
Snapshot #9394 · session 2026-11-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on HOOD
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $95 | 0.26 | $2.30 Nov 12 | $230.00 | 2.83% | 28.7% | 19.61% | 198.8% | 4,646 | 515 |
| 0.20Δ | $100 | 0.18 | $1.48 Nov 12 | $148.00 | 1.82% | 18.4% | 24.74% | 250.9% | 9,234 | 2,954 |
Snapshot #9394 · 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 | $95 | 0.33 | $4.10 Nov 12 | $410.00 | 5.04% | 28.7% | 21.82% | 124.4% | 5,517 | 169 |
| 0.20Δ | $105 | 0.20 | $2.16 Nov 12 | $216.00 | 2.66% | 15.1% | 31.73% | 180.9% | 6,192 | 788 |
Snapshot #9394 · session 2026-11-12 · captured 22:10 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
HOOD volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 66.7%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 167,008 contractssession 2026-11-12
- Largest open-interest line
- $100 call · Jan 15 · 14,252
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #14 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.