LIN wheel: cash-secured put & covered-call yields
Linde plc Ordinary Share · Materials · $472.04 close on Sep 28, 2026
What the Sep 28, 2026 close says about LIN
At 25.4% implied volatility, the options market is pricing a one-standard-deviation move of about $45.77 (9.7%) in LIN by Nov 20, 2026, 53 days out.
Selling the $455 put (−0.30Δ) for $9.77 means assignment would leave a cost basis of $445.23, 5.7% below the $472.04 close.
The 81-day 0.30Δ put pays 1.1× the premium of the 53-day one for 1.5× the time — more premium per day on the 53-day contract ($0.184 vs $0.135).
At 0.30Δ on the Nov 20 expiry the put yields 2.15% on its strike and the call 1.65% on spot: puts pay 1.3× what calls do on LIN this session.
Moving down to the $440 put (−0.20Δ) buys 3.2% more room below spot and keeps 59% of the 0.30Δ premium.
Open interest in the stored window totals 9,808 contracts; the largest single line is the $460 put expiring Nov 20 with 1,305 (13.3% of the window).
By options volume LIN ranks #182 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 LIN
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $455 | −0.30 | $9.77 Sep 28 | $977.00 | $45,500 | 2.15% | 14.8% | $445.23 | 258 | 2 |
| 0.20Δ | $440 | −0.20 | $5.79 Sep 28 | $579.00 | $44,000 | 1.32% | 9.1% | $434.21 | 159 | 7 |
Snapshot #165 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 53
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $450 | −0.29 | $10.90 Sep 28 | $1,090.00 | $45,000 | 2.42% | 10.9% | $439.10 | 584 | 3 |
| 0.20Δ | $435 | −0.20 | $7.20 Sep 28 | $720.00 | $43,500 | 1.66% | 7.5% | $427.80 | 48 | 13 |
Snapshot #165 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on LIN
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $500 | 0.31 | $7.80 Sep 28 | $780.00 | 1.65% | 11.4% | 7.58% | 52.2% | 327 | 4 |
| 0.20Δ | $515 | 0.21 | $4.60 Sep 28 | $460.00 | 0.97% | 6.7% | 10.08% | 69.4% | 175 | 1 |
Snapshot #165 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 53
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $500 | 0.34 | $10.70 Sep 28 | $1,070.00 | 2.27% | 10.2% | 8.19% | 36.9% | 188 | 3 |
| 0.20Δ | $530 | 0.17 | $4.10 Sep 28 | $410.00 | 0.87% | 3.9% | 13.15% | 59.2% | 101 | 1 |
Snapshot #165 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
LIN volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 25.4%session 2026-09-28
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 9,808 contractssession 2026-09-28
- Largest open-interest line
- $460 put · Nov 20 · 1,305
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #182 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.
- 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.