NVDA wheel: cash-secured put & covered-call yields
Nvidia Corp · Technology · $173.73 close on Nov 11, 2026
What the Nov 11, 2026 close says about NVDA
At 52.4% implied volatility, the options market is pricing a one-standard-deviation move of about $26.08 (15.0%) in NVDA by Dec 11, 2026, 30 days out.
Selling the $160 put (−0.29Δ) for $5.40 means assignment would leave a cost basis of $154.60, 11.0% below the $173.73 close.
The 65-day 0.30Δ put pays 1.5× the premium of the 30-day one for 2.2× the time — more premium per day on the 30-day contract ($0.180 vs $0.123).
At 0.30Δ on the Dec 11 expiry the put yields 3.38% on its strike and the call 2.88% on spot: puts pay 1.2× what calls do on NVDA this session.
Moving down to the $150 put (−0.18Δ) buys 5.8% more room below spot and keeps 58% of the 0.30Δ premium.
Open interest in the stored window totals 1,352,808 contracts; the largest single line is the $200 call expiring Jan 15 with 322,943 (23.9% of the window).
By options volume NVDA ranks #6 of 679 names in our universe.
Near-the-money options volume (20k) is 31% 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 NVDA
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $160 | −0.29 | $5.40 Nov 11 | $540.00 | $16,000 | 3.38% | 41.1% | $154.60 | 2,290 | 620 |
| 0.20Δ | $150 | −0.18 | $3.11 Nov 11 | $311.00 | $15,000 | 2.07% | 25.2% | $146.89 | 3,095 | 1,088 |
Snapshot #9177 · session 2026-11-11 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $160 | −0.32 | $8.00 Nov 11 | $800.00 | $16,000 | 5.00% | 28.1% | $152.00 | 51,898 | 11,249 |
| 0.20Δ | $145 | −0.18 | $4.14 Nov 11 | $414.00 | $14,500 | 2.86% | 16.0% | $140.86 | 25,915 | 928 |
Snapshot #9177 · session 2026-11-11 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 65
Covered calls on NVDA
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $190 | 0.30 | $5.00 Nov 11 | $500.00 | 2.88% | 35.0% | 12.24% | 149.0% | 2,704 | 4,207 |
| 0.20Δ | $200 | 0.20 | $2.78 Nov 11 | $278.00 | 1.60% | 19.5% | 16.72% | 203.4% | 3,736 | 4,968 |
Snapshot #9177 · session 2026-11-11 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $195 | 0.32 | $6.70 Nov 11 | $670.00 | 3.86% | 21.7% | 16.10% | 90.4% | 21,758 | 4,529 |
| 0.20Δ | $210 | 0.20 | $3.57 Nov 11 | $357.00 | 2.05% | 11.5% | 22.93% | 128.8% | 57,733 | 4,969 |
Snapshot #9177 · session 2026-11-11 · captured 22:11 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 65
NVDA volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 52.4%session 2026-11-11
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 1,352,808 contractssession 2026-11-11
- Largest open-interest line
- $200 call · Jan 15 · 322,943
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #6 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.
- 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.