IGV wheel: cash-secured put & covered-call yields
iShares Expanded Tech-Software Sector ETF · ETFs · $105.43 close on Sep 28, 2026
What the Sep 28, 2026 close says about IGV
At 33.3% implied volatility, the options market is pricing a one-standard-deviation move of about $10.41 (9.9%) in IGV by Oct 30, 2026, 32 days out.
Selling the $101 put (−0.31Δ) for $2.50 means assignment would leave a cost basis of $98.50, 6.6% below the $105.43 close.
The 81-day 0.30Δ put pays 1.5× the premium of the 32-day one for 2.5× the time — more premium per day on the 32-day contract ($0.078 vs $0.045).
At 0.30Δ on the Oct 30 expiry the put yields 2.48% on its strike and the call 2.28% on spot: puts and calls pay within 10% of each other on IGV this session.
Moving down to the $98 put (−0.21Δ) buys 2.8% more room below spot and keeps 52% of the 0.30Δ premium.
Open interest in the stored window totals 262,847 contracts; the largest single line is the $90 put expiring Dec 18 with 52,172 (19.8% of the window).
By options volume IGV ranks #247 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 IGV
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $101 | −0.31 | $2.50 Sep 28 | $250.00 | $10,100 | 2.48% | 28.2% | $98.50 | 20 | 1 |
| 0.20Δ | $98 | −0.21 | $1.31 Sep 28 | $131.00 | $9,800 | 1.34% | 15.2% | $96.69 | 14 | 5 |
Snapshot #148 · 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 | $100 | −0.33 | $3.66 Sep 28 | $366.00 | $10,000 | 3.66% | 16.5% | $96.34 | 23,666 | 1,137 |
| 0.20Δ | $94 | −0.20 | $2.27 Sep 28 | $227.00 | $9,400 | 2.41% | 10.9% | $91.73 | 166 | 115 |
Snapshot #148 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on IGV
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $110 | 0.35 | $2.40 Sep 28 | $240.00 | 2.28% | 26.0% | 6.61% | 75.4% | 288 | 19 |
| 0.20Δ | $115 | 0.21 | $1.08 Sep 28 | $108.00 | 1.02% | 11.7% | 10.10% | 115.2% | 51 | 3 |
Snapshot #148 · 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 | Unavailable1 | |||||||||
| 0.20Δ | $120 | 0.23 | $2.03 Sep 28 | $203.00 | 1.93% | 8.7% | 15.75% | 70.9% | 23,676 | 9 |
Snapshot #148 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
IGV volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 33.3%session 2026-09-28
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 262,847 contractssession 2026-09-28
- Largest open-interest line
- $90 put · Dec 18 · 52,172
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #247 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.
- No contract near 0.30Δ traded this session
- 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.