ONDS wheel: cash-secured put & covered-call yields
Ondas Inc. Common Stock · Technology · $5.57 close on Nov 10, 2026
What the Nov 10, 2026 close says about ONDS
At 91.7% implied volatility, the options market is pricing a one-standard-deviation move of about $1.49 (26.7%) in ONDS by Dec 11, 2026, 31 days out.
Selling the $5 put (−0.30Δ) for $0.36 means assignment would leave a cost basis of $4.64, 16.7% below the $5.57 close.
The 66-day 0.30Δ put pays 1.5× the premium of the 31-day one for 2.1× the time — more premium per day on the 31-day contract ($0.012 vs $0.008).
At 0.30Δ on the Dec 11 expiry the put yields 7.20% on its strike and the call 3.77% on spot: puts pay 1.9× what calls do on ONDS this session.
Moving down to the $4.50 put (−0.18Δ) buys 9.0% more room below spot and keeps 56% of the 0.30Δ premium.
Open interest in the stored window totals 57,264 contracts; the largest single line is the $7.50 call expiring Jan 15 with 35,880 (62.7% of the window).
By options volume ONDS ranks #214 of 679 names in our universe.
Near-the-money options volume (2.6k) is 1178% 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 ONDS
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $5 | −0.30 | $0.36 Nov 10 | $36.00 | $500 | 7.20% | 84.8% | $4.64 | 72 | 17 |
| 0.20Δ | $4.50 | −0.18 | $0.20 Nov 10 | $20.00 | $450 | 4.44% | 52.3% | $4.30 | 1,269 | 46 |
Snapshot #8895 · session 2026-11-10 · captured 22:12 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 31
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $5 | −0.31 | $0.55 Nov 10 | $55.00 | $500 | 11.00% | 60.8% | $4.45 | 4,868 | 301 |
| 0.20Δ | $4.50 | −0.22 | $0.32 Nov 10 | $32.00 | $450 | 7.11% | 39.3% | $4.18 | 1,071 | 167 |
Snapshot #8895 · session 2026-11-10 · captured 22:12 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 66
Covered calls on ONDS
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $7 | 0.30 | $0.21 Nov 10 | $21.00 | 3.77% | 44.4% | 29.44% | 346.7% | 329 | 180 |
| 0.20Δ | $7.50 | 0.20 | $0.16 Nov 10 | $16.00 | 2.87% | 33.8% | 37.52% | 441.8% | 456 | 6 |
Snapshot #8895 · session 2026-11-10 · captured 22:12 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 31
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $7.50 | 0.29 | $0.34 Nov 10 | $34.00 | 6.10% | 33.8% | 40.75% | 225.4% | 35,880 | 5,852 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #8895 · session 2026-11-10 · captured 22:12 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 66
ONDS volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 91.7%session 2026-11-10
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 57,264 contractssession 2026-11-10
- Largest open-interest line
- $7.50 call · Jan 15 · 35,880
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #214 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
- 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.