PENG wheel: cash-secured put & covered-call yields
Penguin Solutions, Inc. Ordinary Shares · Technology · $79.16 close on Oct 12, 2026
What the Oct 12, 2026 close says about PENG
At 81.0% implied volatility, the options market is pricing a one-standard-deviation move of about $20.95 (26.5%) in PENG by Nov 20, 2026, 39 days out.
Selling the $70 put (−0.27Δ) for $4.17 means assignment would leave a cost basis of $65.83, 16.8% below the $79.16 close.
The 67-day 0.30Δ put pays 1.4× the premium of the 39-day one for 1.7× the time — more premium per day on the 39-day contract ($0.107 vs $0.089).
At 0.30Δ on the Nov 20 expiry the put yields 5.96% on its strike and the call 4.64% on spot: puts pay 1.3× what calls do on PENG this session.
Moving down to the $65 put (−0.19Δ) buys 6.3% more room below spot and keeps 60% of the 0.30Δ premium.
Open interest in the stored window totals 5,071 contracts; the largest single line is the $40 put expiring Dec 18 with 458 (9.0% of the window).
By options volume PENG ranks #34 of 572 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 PENG
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $70 | −0.27 | $4.17 Oct 12 | $417.00 | $7,000 | 5.96% | 55.8% | $65.83 | 334 | 74 |
| 0.20Δ | $65 | −0.19 | $2.50 Oct 12 | $250.00 | $6,500 | 3.85% | 36.0% | $62.50 | 166 | 133 |
Snapshot #2907 · session 2026-10-12 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 39
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $70 | −0.29 | $5.94 Oct 12 | $594.00 | $7,000 | 8.49% | 46.2% | $64.06 | 134 | 9 |
| 0.20Δ | $65 | −0.22 | $4.00 Oct 12 | $400.00 | $6,500 | 6.15% | 33.5% | $61.00 | 85 | 3 |
Snapshot #2907 · session 2026-10-12 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 67
Covered calls on PENG
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $95 | 0.30 | $3.67 Oct 12 | $367.00 | 4.64% | 43.4% | 24.65% | 230.7% | 5 | 24 |
| 0.20Δ | $105 | 0.20 | $2.01 Oct 12 | $201.00 | 2.54% | 23.8% | 35.19% | 329.3% | 31 | 9 |
Snapshot #2907 · session 2026-10-12 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 39
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $100 | 0.31 | $4.32 Oct 12 | $432.00 | 5.46% | 29.7% | 31.79% | 173.2% | 415 | 175 |
| 0.20Δ | $115 | 0.19 | $2.62 Oct 12 | $262.00 | 3.31% | 18.0% | 48.59% | 264.7% | 76 | 67 |
Snapshot #2907 · session 2026-10-12 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 67
PENG volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 81.0%session 2026-10-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Oct 12, 2026
- Open interest, stored window
- 5,071 contractssession 2026-10-12
- Largest open-interest line
- $40 put · Dec 18 · 458
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #34 of 572 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.