IGV wheel: cash-secured put & covered-call yields
iShares Expanded Tech-Software Sector ETF · ETFs · $101.45 close on Nov 12, 2026
What the Nov 12, 2026 close says about IGV
At 31.7% implied volatility, the options market is pricing a one-standard-deviation move of about $10.10 (10.0%) in IGV by Dec 18, 2026, 36 days out.
Selling the $97 put (−0.30Δ) for $2.04 means assignment would leave a cost basis of $94.96, 6.4% below the $101.45 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 ($0.057 vs $0.039).
At 0.30Δ on the Dec 18 expiry the put yields 2.10% on its strike and the call 1.75% on spot: puts pay 1.2× what calls do on IGV this session.
Moving down to the $93 put (−0.19Δ) buys 3.9% more room below spot and keeps 56% of the 0.30Δ premium.
Open interest in the stored window totals 281,851 contracts; the largest single line is the $95 put expiring Dec 18 with 59,199 (21.0% of the window).
By options volume IGV ranks #143 of 679 names in our universe.
Near-the-money options volume (8.1k) is 2105% 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 IGV
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $97 | −0.30 | $2.04 Nov 12 | $204.00 | $9,700 | 2.10% | 21.3% | $94.96 | 430 | 8 |
| 0.20Δ | $93 | −0.19 | $1.15 Nov 12 | $115.00 | $9,300 | 1.24% | 12.5% | $91.85 | 1,480 | 248 |
Snapshot #9399 · session 2026-11-12 · captured 22:11 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 | $94 | −0.25 | $2.51 Nov 12 | $251.00 | $9,400 | 2.67% | 15.2% | $91.49 | 2,634 | 1 |
| 0.20Δ | $92 | −0.21 | $1.66 Nov 12 | $166.00 | $9,200 | 1.80% | 10.3% | $90.34 | 3,340 | 75 |
Snapshot #9399 · session 2026-11-12 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on IGV
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $108 | 0.29 | $1.78 Nov 12 | $178.00 | 1.75% | 17.8% | 8.21% | 83.2% | 4,013 | 593 |
| 0.20Δ | $111 | 0.20 | $1.14 Nov 12 | $114.00 | 1.12% | 11.4% | 10.54% | 106.8% | 541 | 4 |
Snapshot #9399 · session 2026-11-12 · captured 22:11 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 | $110 | 0.30 | $2.21 Nov 12 | $221.00 | 2.18% | 12.4% | 10.61% | 60.5% | 5,595 | 40 |
| 0.20Δ | $114 | 0.21 | $1.32 Nov 12 | $132.00 | 1.30% | 7.4% | 13.67% | 78.0% | 258 | 120 |
Snapshot #9399 · session 2026-11-12 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
IGV 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
- 281,851 contractssession 2026-11-12
- Largest open-interest line
- $95 put · Dec 18 · 59,199
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #143 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.