IONS wheel: cash-secured put & covered-call yields
Ionis Pharmaceuticals, Inc. Common Stock · Healthcare · $31.00 close on Nov 9, 2026
What the Nov 9, 2026 close says about IONS
At 61.4% implied volatility, the options market is pricing a one-standard-deviation move of about $6.22 (20.1%) in IONS by Dec 18, 2026, 39 days out.
Open interest in the stored window totals 1,443 contracts; the largest single line is the $40 call expiring Jan 15 with 664 (46.0% of the window).
By options volume IONS ranks #108 of 679 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 IONS
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $27.50 | −0.23 | $1.20 Nov 9 | $120.00 | $2,750 | 4.36% | 40.8% | $26.30 | 0 | 532 |
Snapshot #8538 · session 2026-11-09 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 39
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $27.50 | −0.26 | $2.30 Nov 9 | $230.00 | $2,750 | 8.36% | 45.6% | $25.20 | 24 | 318 |
| 0.20Δ | $25 | −0.17 | $1.30 Nov 9 | $130.00 | $2,500 | 5.20% | 28.3% | $23.70 | 17 | 10 |
Snapshot #8538 · session 2026-11-09 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 67
Covered calls on IONS
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $35 | 0.31 | $0.65 Nov 9 | $65.00 | 2.10% | 19.6% | 15.00% | 140.4% | 0 | 1 |
| 0.20Δ | $37.50 | 0.19 | $0.37 Nov 9 | $37.00 | 1.19% | 11.2% | 22.16% | 207.4% | 0 | 2 |
Snapshot #8538 · session 2026-11-09 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 39
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $37.50 | 0.27 | $0.99 Nov 9 | $99.00 | 3.19% | 17.4% | 24.16% | 131.6% | 28 | 13 |
| 0.20Δ | $40 | 0.22 | $0.64 Nov 9 | $64.00 | 2.06% | 11.2% | 31.10% | 169.4% | 664 | 563 |
Snapshot #8538 · session 2026-11-09 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 67
IONS volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 61.4%session 2026-11-09
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 1,443 contractssession 2026-11-09
- Largest open-interest line
- $40 call · Jan 15 · 664
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #108 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.
- 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.