NEM wheel: cash-secured put & covered-call yields
Newmont Corporation · Materials · $116.05 close on Sep 28, 2026
What the Sep 28, 2026 close says about NEM
At 46.4% implied volatility, the options market is pricing a one-standard-deviation move of about $15.94 (13.7%) in NEM by Oct 30, 2026, 32 days out.
Selling the $110 put (−0.31Δ) for $3.00 means assignment would leave a cost basis of $107.00, 7.8% below the $116.05 close.
The 81-day 0.30Δ put pays 1.3× the premium of the 32-day one for 2.5× the time — more premium per day on the 32-day contract ($0.094 vs $0.049).
At 0.30Δ on the Oct 30 expiry the put yields 2.73% on its strike and the call 1.92% on spot: puts pay 1.4× what calls do on NEM this session.
Moving down to the $105 put (−0.19Δ) buys 4.3% more room below spot and keeps 60% of the 0.30Δ premium.
Open interest in the stored window totals 38,288 contracts; the largest single line is the $140 call expiring Dec 18 with 5,373 (14.0% of the window).
By options volume NEM ranks #158 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 NEM
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $110 | −0.31 | $3.00 Sep 28 | $300.00 | $11,000 | 2.73% | 31.1% | $107.00 | 30 | 8 |
| 0.20Δ | $105 | −0.19 | $1.80 Sep 28 | $180.00 | $10,500 | 1.71% | 19.6% | $103.20 | 152 | 21 |
Snapshot #191 · session 2026-09-28 · captured 22:40 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $105 | −0.26 | $3.95 Sep 28 | $395.00 | $10,500 | 3.76% | 17.0% | $101.05 | 1,823 | 54 |
| 0.20Δ | $100 | −0.19 | $2.61 Sep 28 | $261.00 | $10,000 | 2.61% | 11.8% | $97.39 | 2,284 | 24 |
Snapshot #191 · session 2026-09-28 · captured 22:40 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on NEM
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $127 | 0.28 | $2.23 Sep 28 | $223.00 | 1.92% | 21.9% | 11.36% | 129.5% | 3 | 3 |
| 0.20Δ | $131 | 0.21 | $1.90 Sep 28 | $190.00 | 1.64% | 18.7% | 14.52% | 165.6% | 12 | 2 |
Snapshot #191 · session 2026-09-28 · captured 22:40 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $135 | 0.27 | $3.85 Sep 28 | $385.00 | 3.32% | 14.9% | 19.65% | 88.5% | 2,872 | 21 |
| 0.20Δ | $140 | 0.22 | $2.75 Sep 28 | $275.00 | 2.37% | 10.7% | 23.01% | 103.7% | 5,373 | 49 |
Snapshot #191 · session 2026-09-28 · captured 22:40 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
NEM volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 46.4%session 2026-09-28
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 38,288 contractssession 2026-09-28
- Largest open-interest line
- $140 call · Dec 18 · 5,373
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #158 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.
- 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.