MSI wheel: cash-secured put & covered-call yields
Motorola Solutions, Inc. New · Technology · $485.62 close on Oct 26, 2026
What the Oct 26, 2026 close says about MSI
At 30.9% implied volatility, the options market is pricing a one-standard-deviation move of about $57.20 (11.8%) in MSI by Dec 18, 2026, 53 days out.
Selling the $460 put (−0.27Δ) for $11.30 means assignment would leave a cost basis of $448.70, 7.6% below the $485.62 close.
The 81-day 0.30Δ put pays 1.2× the premium of the 53-day one for 1.5× the time — more premium per day on the 53-day contract ($0.213 vs $0.172).
At 0.30Δ on the Dec 18 expiry the put yields 2.46% on its strike and the call 1.72% on spot: puts pay 1.4× what calls do on MSI this session.
Moving down to the $440 put (−0.17Δ) buys 4.1% more room below spot and keeps 57% of the 0.30Δ premium.
Open interest in the stored window totals 2,281 contracts; the largest single line is the $520 call expiring Dec 18 with 757 (33.2% of the window).
By options volume MSI ranks #198 of 635 names in our universe.
Near-the-money options volume (685) is 190% above 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 MSI
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $460 | −0.27 | $11.30 Oct 26 | $1,130.00 | $46,000 | 2.46% | 16.9% | $448.70 | 74 | 4 |
| 0.20Δ | $440 | −0.17 | $6.40 Oct 26 | $640.00 | $44,000 | 1.45% | 10.0% | $433.60 | 22 | 2 |
Snapshot #5762 · session 2026-10-26 · captured 22:22 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 | $460 | −0.29 | $13.90 Oct 26 | $1,390.00 | $46,000 | 3.02% | 13.6% | $446.10 | 47 | 3 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #5762 · session 2026-10-26 · captured 22:22 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on MSI
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $520 | 0.30 | $8.35 Oct 26 | $835.00 | 1.72% | 11.8% | 8.80% | 60.6% | 757 | 1 |
| 0.20Δ | $530 | 0.23 | $6.10 Oct 26 | $610.00 | 1.26% | 8.7% | 10.39% | 71.6% | 9 | 2 |
Snapshot #5762 · session 2026-10-26 · captured 22:22 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 | $530 | 0.28 | $8.50 Oct 26 | $850.00 | 1.75% | 7.9% | 10.89% | 49.1% | 152 | 3 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #5762 · session 2026-10-26 · captured 22:22 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
MSI volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 30.9%session 2026-10-26
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Oct 26, 2026
- Open interest, stored window
- 2,281 contractssession 2026-10-26
- Largest open-interest line
- $520 call · Dec 18 · 757
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #198 of 635 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 (7 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.