NEE wheel: cash-secured put & covered-call yields
NextEra Energy, Inc. · Utilities · $85.29 close on Nov 12, 2026
What the Nov 12, 2026 close says about NEE
At 23.9% implied volatility, the options market is pricing a one-standard-deviation move of about $6.40 (7.5%) in NEE by Dec 18, 2026, 36 days out.
Selling the $82.50 put (−0.30Δ) for $0.99 means assignment would leave a cost basis of $81.51, 4.4% below the $85.29 close.
The 64-day 0.30Δ put pays 1.6× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.028 vs $0.025).
Moving down to the $80 put (−0.17Δ) buys 2.9% more room below spot and keeps 52% of the 0.30Δ premium.
Open interest in the stored window totals 89,223 contracts; the largest single line is the $90 call expiring Jan 15 with 10,272 (11.5% of the window).
NEE goes ex-dividend on Nov 27, 2026 ($0.62 declared), inside the Dec 18 covered-call window. A short call that is in the money before an ex-date can be assigned early.
By options volume NEE ranks #272 of 679 names in our universe.
Near-the-money options volume (446) is 201% 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 NEE
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $82.50 | −0.30 | $0.99 Nov 12 | $99.00 | $8,250 | 1.20% | 12.2% | $81.51 | 1,766 | 33 |
| 0.20Δ | $80 | −0.17 | $0.51 Nov 12 | $51.00 | $8,000 | 0.64% | 6.5% | $79.49 | 6,363 | 59 |
Snapshot #9448 · session 2026-11-12 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $82.50 | −0.33 | $1.61 Nov 12 | $161.00 | $8,250 | 1.95% | 11.1% | $80.89 | 1,712 | 8 |
| 0.20Δ | $80 | −0.22 | $1.08 Nov 12 | $108.00 | $8,000 | 1.35% | 7.7% | $78.92 | 9,995 | 1,348 |
Snapshot #9448 · session 2026-11-12 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on NEE
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $90 | 0.22 | $0.66 Nov 12 | $66.00 | 0.77% | 7.8% | 6.30% | 63.8% | 4,686 | 37 |
Snapshot #9448 · session 2026-11-12 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $90 | 0.28 | $1.25 Nov 12 | $125.00 | 1.47% | 8.4% | 6.99% | 39.9% | 10,272 | 104 |
| 0.20Δ | $92.50 | 0.19 | $0.77 Nov 12 | $77.00 | 0.90% | 5.1% | 9.36% | 53.4% | 4,185 | 17 |
Snapshot #9448 · session 2026-11-12 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
NEE volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 23.9%session 2026-11-12
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- Ex-div Nov 27, 2026 · $0.62 declaredchecked Nov 9, 2026
- Open interest, stored window
- 89,223 contractssession 2026-11-12
- Largest open-interest line
- $90 call · Jan 15 · 10,272
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #272 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.
- No contract near 0.30Δ traded this session
- 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.