LIN wheel: cash-secured put & covered-call yields
Linde plc Ordinary Share · Materials · $522.49 close on Nov 12, 2026
What the Nov 12, 2026 close says about LIN
At 20.6% implied volatility, the options market is pricing a one-standard-deviation move of about $33.80 (6.5%) in LIN by Dec 18, 2026, 36 days out.
Selling the $505 put (−0.29Δ) for $5.60 means assignment would leave a cost basis of $499.40, 4.4% below the $522.49 close.
The 64-day 0.30Δ put pays 1.4× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.156 vs $0.120).
At 0.30Δ on the Dec 18 expiry the put yields 1.11% on its strike and the call 1.59% on spot: calls pay 1.4× what puts do on LIN this session.
Moving down to the $495 put (−0.21Δ) buys 1.9% more room below spot and keeps 73% of the 0.30Δ premium.
Open interest in the stored window totals 15,163 contracts; the largest single line is the $480 put expiring Dec 18 with 1,177 (7.8% of the window).
LIN goes ex-dividend on Dec 3, 2026 ($1.60 declared), inside the Dec 18 covered-call window. A short call that is in the money before an ex-date can be assigned early.
By options volume LIN ranks #253 of 679 names in our universe.
Near-the-money options volume (93) is 54% below 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 LIN
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $505 | −0.29 | $5.60 Nov 12 | $560.00 | $50,500 | 1.11% | 11.2% | $499.40 | 71 | 2 |
| 0.20Δ | $495 | −0.21 | $4.09 Nov 12 | $409.00 | $49,500 | 0.83% | 8.4% | $490.91 | 116 | 4 |
Snapshot #9416 · 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 | $500 | −0.29 | $7.70 Nov 12 | $770.00 | $50,000 | 1.54% | 8.8% | $492.30 | 436 | 3 |
| 0.20Δ | $485 | −0.19 | $5.20 Nov 12 | $520.00 | $48,500 | 1.07% | 6.1% | $479.80 | 105 | 1 |
Snapshot #9416 · session 2026-11-12 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on LIN
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $540 | 0.32 | $8.30 Nov 12 | $830.00 | 1.59% | 16.1% | 4.94% | 50.1% | 1,154 | 2 |
| 0.20Δ | $555 | 0.19 | $4.30 Nov 12 | $430.00 | 0.82% | 8.3% | 7.05% | 71.4% | 114 | 2 |
Snapshot #9416 · 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 | $550 | 0.30 | $9.70 Nov 12 | $970.00 | 1.86% | 10.6% | 7.12% | 40.6% | 261 | 1 |
| 0.20Δ | $570 | 0.17 | $5.00 Nov 12 | $500.00 | 0.96% | 5.5% | 10.05% | 57.3% | 61 | 2 |
Snapshot #9416 · session 2026-11-12 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
LIN volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 20.6%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- Ex-div Dec 3, 2026 · $1.60 declaredchecked Nov 9, 2026
- Open interest, stored window
- 15,163 contractssession 2026-11-12
- Largest open-interest line
- $480 put · Dec 18 · 1,177
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #253 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 (24 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.