META wheel: cash-secured put & covered-call yields
Meta Platforms, Inc. Class A Common Stock · Technology · $628.77 close on Nov 11, 2026
What the Nov 11, 2026 close says about META
At 38.8% implied volatility, the options market is pricing a one-standard-deviation move of about $70.01 (11.1%) in META by Dec 11, 2026, 30 days out.
Selling the $600 put (−0.31Δ) for $14.33 means assignment would leave a cost basis of $585.67, 6.9% below the $628.77 close.
The 65-day 0.30Δ put pays 1.5× the premium of the 30-day one for 2.2× the time — more premium per day on the 30-day contract ($0.478 vs $0.323).
At 0.30Δ on the Dec 11 expiry the put yields 2.39% on its strike and the call 2.07% on spot: puts pay 1.2× what calls do on META this session.
Moving down to the $575 put (−0.19Δ) buys 4.0% more room below spot and keeps 54% of the 0.30Δ premium.
Open interest in the stored window totals 276,956 contracts; the largest single line is the $750 call expiring Jan 15 with 100,021 (36.1% of the window).
By options volume META ranks #40 of 679 names in our universe.
Near-the-money options volume (1.3k) is 13% 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 META
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $600 | −0.31 | $14.33 Nov 11 | $1,433.00 | $60,000 | 2.39% | 29.1% | $585.67 | 219 | 188 |
| 0.20Δ | $575 | −0.19 | $7.70 Nov 11 | $770.00 | $57,500 | 1.34% | 16.3% | $567.30 | 91 | 11 |
Snapshot #9148 · session 2026-11-11 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $590 | −0.30 | $21.00 Nov 11 | $2,100.00 | $59,000 | 3.56% | 20.0% | $569.00 | 3,141 | 85 |
| 0.20Δ | $560 | −0.21 | $13.31 Nov 11 | $1,331.00 | $56,000 | 2.38% | 13.3% | $546.69 | 4,527 | 238 |
Snapshot #9148 · session 2026-11-11 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 65
Covered calls on META
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $670 | 0.31 | $13.00 Nov 11 | $1,300.00 | 2.07% | 25.2% | 8.62% | 104.9% | 105 | 10 |
| 0.20Δ | $700 | 0.18 | $7.00 Nov 11 | $700.00 | 1.11% | 13.5% | 12.44% | 151.4% | 184 | 40 |
Snapshot #9148 · session 2026-11-11 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $700 | 0.29 | $16.25 Nov 11 | $1,625.00 | 2.58% | 14.5% | 13.91% | 78.1% | 42,087 | 1,270 |
| 0.20Δ | $730 | 0.20 | $11.45 Nov 11 | $1,145.00 | 1.82% | 10.2% | 17.92% | 100.6% | 4,661 | 129 |
Snapshot #9148 · session 2026-11-11 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 65
META volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 38.8%session 2026-11-11
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 276,956 contractssession 2026-11-11
- Largest open-interest line
- $750 call · Jan 15 · 100,021
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #40 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 (34 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.