LULU wheel: cash-secured put & covered-call yields
lululemon athletica inc. · Consumer discretionary · $93.14 close on Oct 5, 2026
What the Oct 5, 2026 close says about LULU
At 42.9% implied volatility, the options market is pricing a one-standard-deviation move of about $11.83 (12.7%) in LULU by Nov 6, 2026, 32 days out.
Selling the $88 put (−0.30Δ) for $2.37 means assignment would leave a cost basis of $85.63, 8.1% below the $93.14 close.
The 74-day 0.30Δ put pays 1.9× the premium of the 32-day one for 2.3× the time — more premium per day on the 32-day contract ($0.074 vs $0.061).
At 0.30Δ on the Nov 6 expiry the put yields 2.69% on its strike and the call 2.07% on spot: puts pay 1.3× what calls do on LULU this session.
Moving down to the $85 put (−0.21Δ) buys 3.2% more room below spot and keeps 65% of the 0.30Δ premium.
Open interest in the stored window totals 18,313 contracts; the largest single line is the $75 put expiring Dec 18 with 3,642 (19.9% of the window).
By options volume LULU ranks #160 of 514 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 LULU
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $88 | −0.30 | $2.37 Oct 5 | $237.00 | $8,800 | 2.69% | 30.7% | $85.63 | 16 | 7 |
| 0.20Δ | $85 | −0.21 | $1.55 Oct 5 | $155.00 | $8,500 | 1.82% | 20.8% | $83.45 | 44 | 11 |
Snapshot #1447 · session 2026-10-05 · 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 | $85 | −0.30 | $4.54 Oct 5 | $454.00 | $8,500 | 5.34% | 26.3% | $80.46 | 2,615 | 105 |
| 0.20Δ | $80 | −0.21 | $2.86 Oct 5 | $286.00 | $8,000 | 3.57% | 17.6% | $77.14 | 1,842 | 59 |
Snapshot #1447 · session 2026-10-05 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 74
Covered calls on LULU
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $100 | 0.30 | $1.93 Oct 5 | $193.00 | 2.07% | 23.6% | 9.44% | 107.6% | 41 | 17 |
| 0.20Δ | $105 | 0.19 | $1.11 Oct 5 | $111.00 | 1.19% | 13.6% | 13.93% | 158.8% | 25 | 73 |
Snapshot #1447 · session 2026-10-05 · 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 | $110 | 0.28 | $3.35 Oct 5 | $335.00 | 3.60% | 17.7% | 21.70% | 107.0% | 2,615 | 152 |
| 0.20Δ | $115 | 0.22 | $2.37 Oct 5 | $237.00 | 2.54% | 12.6% | 26.01% | 128.3% | 787 | 30 |
Snapshot #1447 · session 2026-10-05 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 74
LULU volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 42.9%session 2026-10-05
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Oct 5, 2026
- Open interest, stored window
- 18,313 contractssession 2026-10-05
- Largest open-interest line
- $75 put · Dec 18 · 3,642
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #160 of 514 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.