KR wheel: cash-secured put & covered-call yields
The Kroger Co. · Consumer staples · $63.05 close on Oct 19, 2026
What the Oct 19, 2026 close says about KR
At 32.6% implied volatility, the options market is pricing a one-standard-deviation move of about $6.08 (9.6%) in KR by Nov 20, 2026, 32 days out.
Selling the $60 put (−0.27Δ) for $1.10 means assignment would leave a cost basis of $58.90, 6.6% below the $63.05 close.
The 60-day 0.30Δ put pays 1.7× the premium of the 32-day one for 1.9× the time — more premium per day on the 32-day contract ($0.034 vs $0.031).
At 0.30Δ on the Nov 20 expiry the put yields 1.83% on its strike and the call 1.67% on spot: puts pay 1.1× what calls do on KR this session.
Moving down to the $59 put (−0.21Δ) buys 1.6% more room below spot and keeps 73% of the 0.30Δ premium.
Open interest in the stored window totals 16,328 contracts; the largest single line is the $57.50 put expiring Dec 18 with 3,190 (19.5% of the window).
KR goes ex-dividend on Nov 16, 2026 ($0.39 declared), inside the Nov 20 covered-call window. A short call that is in the money before an ex-date can be assigned early.
By options volume KR ranks #53 of 608 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 KR
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $60 | −0.27 | $1.10 Oct 19 | $110.00 | $6,000 | 1.83% | 20.9% | $58.90 | 535 | 2,536 |
| 0.20Δ | $59 | −0.21 | $0.80 Oct 19 | $80.00 | $5,900 | 1.36% | 15.5% | $58.20 | 0 | 16 |
Snapshot #4284 · session 2026-10-19 · captured 22:21 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 | $60 | −0.32 | $1.85 Oct 19 | $185.00 | $6,000 | 3.08% | 18.8% | $58.15 | 1,164 | 1 |
| 0.20Δ | $57.50 | −0.22 | $1.10 Oct 19 | $110.00 | $5,750 | 1.91% | 11.6% | $56.40 | 3,190 | 2,029 |
Snapshot #4284 · session 2026-10-19 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 60
Covered calls on KR
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $66 | 0.31 | $1.05 Oct 19 | $105.00 | 1.67% | 19.0% | 6.34% | 72.4% | 0 | 19 |
| 0.20Δ | $68 | 0.22 | $0.61 Oct 19 | $61.00 | 0.97% | 11.0% | 8.82% | 100.6% | 0 | 11 |
Snapshot #4284 · session 2026-10-19 · captured 22:21 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 | $67.50 | 0.31 | $1.45 Oct 19 | $145.00 | 2.30% | 14.0% | 9.36% | 56.9% | 2,040 | 22 |
| 0.20Δ | $70 | 0.21 | $0.90 Oct 19 | $90.00 | 1.43% | 8.7% | 12.45% | 75.7% | 448 | 12 |
Snapshot #4284 · session 2026-10-19 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 60
KR volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 32.6%session 2026-10-19
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- Ex-div Nov 16, 2026 · $0.39 declaredchecked Oct 19, 2026
- Open interest, stored window
- 16,328 contractssession 2026-10-19
- Largest open-interest line
- $57.50 put · Dec 18 · 3,190
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #53 of 608 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 (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.