NKE wheel: cash-secured put & covered-call yields
Nike, Inc. · Materials · $37.76 close on Nov 12, 2026
What the Nov 12, 2026 close says about NKE
At 48.4% implied volatility, the options market is pricing a one-standard-deviation move of about $5.74 (15.2%) in NKE by Dec 18, 2026, 36 days out.
Selling the $35 put (−0.28Δ) for $1.07 means assignment would leave a cost basis of $33.93, 10.1% below the $37.76 close.
The 64-day 0.30Δ put pays 1.4× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.030 vs $0.024).
Open interest in the stored window totals 216,196 contracts; the largest single line is the $40 call expiring Dec 18 with 27,123 (12.5% of the window).
By options volume NKE ranks #92 of 679 names in our universe.
Near-the-money options volume (2.8k) is 320% 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 NKE
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $35 | −0.28 | $1.07 Nov 12 | $107.00 | $3,500 | 3.06% | 31.0% | $33.93 | 24,385 | 248 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #9452 · 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 | $35 | −0.30 | $1.53 Nov 12 | $153.00 | $3,500 | 4.37% | 24.9% | $33.47 | 20,172 | 38 |
| 0.20Δ | $32.50 | −0.19 | $0.80 Nov 12 | $80.00 | $3,250 | 2.46% | 14.0% | $31.70 | 10,072 | 345 |
Snapshot #9452 · session 2026-11-12 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on NKE
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable2 | |||||||||
| 0.20Δ | $42.50 | 0.22 | $0.59 Nov 12 | $59.00 | 1.56% | 15.8% | 14.12% | 143.1% | 13,485 | 876 |
Snapshot #9452 · 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 | $42.50 | 0.28 | $1.07 Nov 12 | $107.00 | 2.83% | 16.2% | 15.39% | 87.8% | 15,348 | 230 |
| 0.20Δ | $45 | 0.18 | $0.63 Nov 12 | $63.00 | 1.67% | 9.5% | 20.84% | 118.9% | 19,709 | 490 |
Snapshot #9452 · session 2026-11-12 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
NKE volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 48.4%session 2026-11-12
- IV rank / IV percentile
- Unavailable3
- Next earnings
- Unavailable4
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 216,196 contractssession 2026-11-12
- Largest open-interest line
- $40 call · Dec 18 · 27,123
- Bid/ask spread
- Unavailable5
- Options liquidity rank
- #92 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 0.20Δ traded this session
- 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.