INTC wheel: cash-secured put & covered-call yields
Intel Corp · Technology · $123.00 close on Sep 25, 2026
What the Sep 25, 2026 close says about INTC
At 75.6% implied volatility, the options market is pricing a one-standard-deviation move of about $28.79 (23.4%) in INTC by Oct 30, 2026, 35 days out.
Selling the $112 put (−0.29Δ) for $5.53 means assignment would leave a cost basis of $106.47, 13.4% below the $123.00 close.
The 84-day 0.30Δ put pays 1.6× the premium of the 35-day one for 2.4× the time — more premium per day on the 35-day contract ($0.158 vs $0.108).
At 0.30Δ on the Oct 30 expiry the put yields 4.94% on its strike and the call 4.56% on spot: puts and calls pay within 10% of each other on INTC this session.
Moving down to the $105 put (−0.20Δ) buys 5.7% more room below spot and keeps 62% of the 0.30Δ premium.
Open interest in the stored window totals 291,842 contracts; the largest single line is the $70 put expiring Dec 18 with 21,440 (7.3% of the window).
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on INTC
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $112 | −0.29 | $5.53 Sep 25 | $553.00 | $11,200 | 4.94% | 51.5% | $106.47 | 157 | 13 |
| 0.20Δ | $105 | −0.20 | $3.42 Sep 25 | $342.00 | $10,500 | 3.26% | 34.0% | $101.58 | 687 | 183 |
Snapshot #9 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $110 | −0.30 | $9.10 Sep 25 | $910.00 | $11,000 | 8.27% | 35.9% | $100.90 | 14,457 | 454 |
| 0.20Δ | $100 | −0.20 | $5.40 Sep 25 | $540.00 | $10,000 | 5.40% | 23.5% | $94.60 | 10,194 | 256 |
Snapshot #9 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 84
Covered calls on INTC
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $143 | 0.31 | $5.61 Sep 25 | $561.00 | 4.56% | 47.6% | 20.82% | 217.1% | 0 | 4 |
| 0.20Δ | $155 | 0.21 | $3.62 Sep 25 | $362.00 | 2.94% | 30.7% | 28.96% | 302.0% | 246 | 85 |
Snapshot #9 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $160 | 0.29 | $6.80 Sep 25 | $680.00 | 5.53% | 24.0% | 35.61% | 154.7% | 6,447 | 355 |
| 0.20Δ | $180 | 0.20 | $4.30 Sep 25 | $430.00 | 3.50% | 15.2% | 49.84% | 216.6% | 10,488 | 550 |
Snapshot #9 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 84
INTC volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 75.6%session 2026-09-25
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 27, 2026
- Open interest, stored window
- 291,842 contractssession 2026-09-25
- Largest open-interest line
- $70 put · Dec 18 · 21,440
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- Unavailable4
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.
- Not ranked yet — liquidity ranks are computed at the weekly re-rank of the whole universe.