ONDS wheel: cash-secured put & covered-call yields
Ondas Inc. Common Stock · Technology · $7.68 close on Sep 28, 2026
What the Sep 28, 2026 close says about ONDS
At 71.8% implied volatility, the options market is pricing a one-standard-deviation move of about $1.63 (21.2%) in ONDS by Oct 30, 2026, 32 days out.
Selling the $7 put (−0.28Δ) for $0.31 means assignment would leave a cost basis of $6.69, 12.9% below the $7.68 close.
The 81-day 0.30Δ put pays 2.5× the premium of the 32-day one for 2.5× the time — about the same premium per day either way.
At 0.30Δ on the Oct 30 expiry the put yields 4.43% on its strike and the call 3.13% on spot: puts pay 1.4× what calls do on ONDS this session.
Moving down to the $6.50 put (−0.17Δ) buys 6.5% more room below spot and keeps 55% of the 0.30Δ premium.
Open interest in the stored window totals 112,605 contracts; the largest single line is the $8 call expiring Dec 18 with 36,102 (32.1% of the window).
By options volume ONDS ranks #126 of 441 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 ONDS
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $7 | −0.28 | $0.31 Sep 28 | $31.00 | $700 | 4.43% | 50.5% | $6.69 | 1,083 | 173 |
| 0.20Δ | $6.50 | −0.17 | $0.17 Sep 28 | $17.00 | $650 | 2.62% | 29.8% | $6.33 | 323 | 56 |
Snapshot #203 · session 2026-09-28 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $7 | −0.32 | $0.76 Sep 28 | $76.00 | $700 | 10.86% | 48.9% | $6.24 | 10,871 | 211 |
| 0.20Δ | $6 | −0.19 | $0.35 Sep 28 | $35.00 | $600 | 5.83% | 26.3% | $5.65 | 11,337 | 241 |
Snapshot #203 · session 2026-09-28 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on ONDS
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $9 | 0.26 | $0.24 Sep 28 | $24.00 | 3.13% | 35.6% | 20.31% | 231.7% | 1,292 | 424 |
| 0.20Δ | $9.50 | 0.18 | $0.20 Sep 28 | $20.00 | 2.60% | 29.7% | 26.30% | 300.0% | 711 | 86 |
Snapshot #203 · session 2026-09-28 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $10 | 0.31 | $0.49 Sep 28 | $49.00 | 6.38% | 28.8% | 36.59% | 164.9% | 23,099 | 454 |
| 0.20Δ | $11 | 0.24 | $0.36 Sep 28 | $36.00 | 4.69% | 21.1% | 47.92% | 215.9% | 5,356 | 157 |
Snapshot #203 · session 2026-09-28 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
ONDS volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 71.8%session 2026-09-28
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 112,605 contractssession 2026-09-28
- Largest open-interest line
- $8 call · Dec 18 · 36,102
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #126 of 441 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.