NEM wheel: cash-secured put & covered-call yields
Newmont Corporation · Materials · $112.64 close on Nov 12, 2026
What the Nov 12, 2026 close says about NEM
At 42.8% implied volatility, the options market is pricing a one-standard-deviation move of about $15.13 (13.4%) in NEM by Dec 18, 2026, 36 days out.
Selling the $105 put (−0.26Δ) for $2.47 means assignment would leave a cost basis of $102.53, 9.0% below the $112.64 close.
The 64-day 0.30Δ put pays 1.5× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.069 vs $0.058).
Moving down to the $100 put (−0.16Δ) buys 4.4% more room below spot and keeps 55% of the 0.30Δ premium.
Open interest in the stored window totals 91,907 contracts; the largest single line is the $105 put expiring Jan 15 with 8,628 (9.4% of the window).
NEM goes ex-dividend on Nov 25, 2026 ($0.26 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 NEM ranks #167 of 679 names in our universe.
Near-the-money options volume (1.0k) is 224% 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 NEM
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $105 | −0.26 | $2.47 Nov 12 | $247.00 | $10,500 | 2.35% | 23.9% | $102.53 | 3,055 | 154 |
| 0.20Δ | $100 | −0.16 | $1.35 Nov 12 | $135.00 | $10,000 | 1.35% | 13.7% | $98.65 | 5,054 | 52 |
Snapshot #9449 · 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 | $105 | −0.29 | $3.72 Nov 12 | $372.00 | $10,500 | 3.54% | 20.2% | $101.28 | 8,628 | 1,950 |
| 0.20Δ | $100 | −0.21 | $2.56 Nov 12 | $256.00 | $10,000 | 2.56% | 14.6% | $97.44 | 6,065 | 86 |
Snapshot #9449 · session 2026-11-12 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on NEM
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $130 | 0.17 | $1.08 Nov 12 | $108.00 | 0.96% | 9.7% | 16.37% | 166.0% | 3,008 | 577 |
Snapshot #9449 · 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 | $125 | 0.31 | $3.43 Nov 12 | $343.00 | 3.05% | 17.4% | 14.02% | 79.9% | 2,830 | 293 |
| 0.20Δ | $135 | 0.18 | $1.80 Nov 12 | $180.00 | 1.60% | 9.1% | 21.45% | 122.3% | 2,359 | 32 |
Snapshot #9449 · session 2026-11-12 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
NEM volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 42.8%session 2026-11-12
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- Ex-div Nov 25, 2026 · $0.26 declaredchecked Nov 9, 2026
- Open interest, stored window
- 91,907 contractssession 2026-11-12
- Largest open-interest line
- $105 put · Jan 15 · 8,628
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #167 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.