NUE wheel: cash-secured put & covered-call yields
Nucor Corporation · Materials · $251.41 close on Oct 5, 2026
What the Oct 5, 2026 close says about NUE
At 38.2% implied volatility, the options market is pricing a one-standard-deviation move of about $34.11 (13.6%) in NUE by Nov 20, 2026, 46 days out.
Selling the $240 put (−0.33Δ) for $7.52 means assignment would leave a cost basis of $232.48, 7.5% below the $251.41 close.
The 74-day 0.30Δ put pays 1.7× the premium of the 46-day one for 1.6× the time — about the same premium per day either way.
At 0.30Δ on the Nov 20 expiry the put yields 3.13% on its strike and the call 3.18% on spot: puts and calls pay within 10% of each other on NUE this session.
Moving down to the $230 put (−0.23Δ) buys 4.0% more room below spot and keeps 63% of the 0.30Δ premium.
Open interest in the stored window totals 4,388 contracts; the largest single line is the $210 put expiring Dec 18 with 1,069 (24.4% of the window).
By options volume NUE ranks #34 of 514 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 NUE
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $240 | −0.33 | $7.52 Oct 5 | $752.00 | $24,000 | 3.13% | 24.9% | $232.48 | 36 | 6 |
| 0.20Δ | $230 | −0.23 | $4.74 Oct 5 | $474.00 | $23,000 | 2.06% | 16.4% | $225.26 | 95 | 6 |
Snapshot #1481 · session 2026-10-05 · captured 22:30 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 46
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $240 | −0.35 | $12.50 Oct 5 | $1,250.00 | $24,000 | 5.21% | 25.7% | $227.50 | 313 | 151 |
| 0.20Δ | $220 | −0.18 | $4.70 Oct 5 | $470.00 | $22,000 | 2.14% | 10.5% | $215.30 | 547 | 5 |
Snapshot #1481 · session 2026-10-05 · captured 22:30 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 74
Covered calls on NUE
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $270 | 0.34 | $8.00 Oct 5 | $800.00 | 3.18% | 25.2% | 10.58% | 83.9% | 80 | 3,088 |
| 0.20Δ | $290 | 0.17 | $3.70 Oct 5 | $370.00 | 1.47% | 11.7% | 16.82% | 133.5% | 118 | 32 |
Snapshot #1481 · session 2026-10-05 · captured 22:30 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 46
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $280 | 0.31 | $8.00 Oct 5 | $800.00 | 3.18% | 15.7% | 14.55% | 71.8% | 378 | 1 |
| 0.20Δ | $300 | 0.17 | $3.62 Oct 5 | $362.00 | 1.44% | 7.1% | 20.77% | 102.4% | 103 | 215 |
Snapshot #1481 · session 2026-10-05 · captured 22:30 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 74
NUE volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 38.2%session 2026-10-05
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Oct 5, 2026
- Open interest, stored window
- 4,388 contractssession 2026-10-05
- Largest open-interest line
- $210 put · Dec 18 · 1,069
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #34 of 514 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.