MNST wheel: cash-secured put & covered-call yields
Monster Beverage Corporation · Consumer staples · $41.86 close on Sep 28, 2026
What the Sep 28, 2026 close says about MNST
At 33.5% implied volatility, the options market is pricing a one-standard-deviation move of about $5.34 (12.8%) in MNST by Nov 20, 2026, 53 days out.
Selling the $40 put (−0.31Δ) for $1.15 means assignment would leave a cost basis of $38.85, 7.2% below the $41.86 close.
The 81-day 0.30Δ put pays 1.3× the premium of the 53-day one for 1.5× the time — more premium per day on the 53-day contract ($0.022 vs $0.018).
At 0.30Δ on the Nov 20 expiry the put yields 2.88% on its strike and the call 2.39% on spot: puts pay 1.2× what calls do on MNST this session.
Open interest in the stored window totals 13,419 contracts; the largest single line is the $37.50 put expiring Dec 18 with 7,318 (54.5% of the window).
By options volume MNST ranks #65 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 MNST
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $40 | −0.31 | $1.15 Sep 28 | $115.00 | $4,000 | 2.88% | 19.8% | $38.85 | 134 | 153 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #178 · session 2026-09-28 · captured 22:32 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 | $40 | −0.33 | $1.45 Sep 28 | $145.00 | $4,000 | 3.62% | 16.3% | $38.55 | 138 | 51 |
| 0.20Δ | $37.50 | −0.19 | $0.75 Sep 28 | $75.00 | $3,750 | 2.00% | 9.0% | $36.75 | 7,318 | 31 |
Snapshot #178 · session 2026-09-28 · captured 22:32 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on MNST
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $45 | 0.32 | $1.00 Sep 28 | $100.00 | 2.39% | 16.5% | 9.89% | 68.1% | 36 | 1,105 |
| 0.20Δ | $47 | 0.21 | $0.55 Sep 28 | $55.00 | 1.31% | 9.0% | 13.59% | 93.6% | 58 | 375 |
Snapshot #178 · session 2026-09-28 · captured 22:32 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 | $46.25 | 0.27 | $1.01 Sep 28 | $101.00 | 2.41% | 10.9% | 12.90% | 58.1% | 171 | 87 |
| 0.20Δ | $50 | 0.19 | $0.42 Sep 28 | $42.00 | 1.00% | 4.5% | 20.45% | 92.1% | 2,038 | 3 |
Snapshot #178 · session 2026-09-28 · captured 22:32 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
MNST volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 33.5%session 2026-09-28
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 13,419 contractssession 2026-09-28
- Largest open-interest line
- $37.50 put · Dec 18 · 7,318
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #65 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.
- No contract near 0.20Δ traded this session
- 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.