META wheel: cash-secured put & covered-call yields
Meta Platforms, Inc. Class A Common Stock · Technology · $751.66 close on Sep 25, 2026
What the Sep 25, 2026 close says about META
At 44.9% implied volatility, the options market is pricing a one-standard-deviation move of about $104.50 (13.9%) in META by Oct 30, 2026, 35 days out.
Selling the $705 put (−0.30Δ) for $20.95 means assignment would leave a cost basis of $684.05, 9.0% below the $751.66 close.
The 84-day 0.30Δ put pays 1.5× the premium of the 35-day one for 2.4× the time — more premium per day on the 35-day contract ($0.599 vs $0.376).
At 0.30Δ on the Oct 30 expiry the put yields 2.97% on its strike and the call 2.69% on spot: puts pay 1.1× what calls do on META this session.
Moving down to the $675 put (−0.20Δ) buys 4.0% more room below spot and keeps 60% of the 0.30Δ premium.
Open interest in the stored window totals 142,674 contracts; the largest single line is the $800 call expiring Dec 18 with 11,993 (8.4% of the window).
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 | $705 | −0.30 | $20.95 Sep 25 | $2,095.00 | $70,500 | 2.97% | 31.0% | $684.05 | 122 | 29 |
| 0.20Δ | $675 | −0.20 | $12.65 Sep 25 | $1,265.00 | $67,500 | 1.87% | 19.5% | $662.35 | 150 | 75 |
Snapshot #22 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $695 | −0.31 | $31.60 Sep 25 | $3,160.00 | $69,500 | 4.55% | 19.8% | $663.40 | 134 | 51 |
| 0.20Δ | $650 | −0.20 | $18.20 Sep 25 | $1,820.00 | $65,000 | 2.80% | 12.2% | $631.80 | 2,333 | 283 |
Snapshot #22 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 84
Covered calls on META
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $820 | 0.30 | $20.23 Sep 25 | $2,023.00 | 2.69% | 28.1% | 11.78% | 122.9% | 154 | 152 |
| 0.20Δ | $860 | 0.20 | $12.00 Sep 25 | $1,200.00 | 1.60% | 16.6% | 16.01% | 167.0% | 160 | 27 |
Snapshot #22 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $860 | 0.30 | $26.55 Sep 25 | $2,655.00 | 3.53% | 15.3% | 17.95% | 78.0% | 1,810 | 4 |
| 0.20Δ | $920 | 0.20 | $16.40 Sep 25 | $1,640.00 | 2.18% | 9.5% | 24.58% | 106.8% | 560 | 14 |
Snapshot #22 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 84
META volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 44.9%session 2026-09-25
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 27, 2026
- Open interest, stored window
- 142,674 contractssession 2026-09-25
- Largest open-interest line
- $800 call · Dec 18 · 11,993
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- Unavailable4
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.
- Not ranked yet — liquidity ranks are computed at the weekly re-rank of the whole universe.