PEP wheel: cash-secured put & covered-call yields
PepsiCo, Inc. · Consumer staples · $142.26 close on Nov 12, 2026
What the Nov 12, 2026 close says about PEP
At 25.1% implied volatility, the options market is pricing a one-standard-deviation move of about $11.22 (7.9%) in PEP by Dec 18, 2026, 36 days out.
Open interest in the stored window totals 64,879 contracts; the largest single line is the $150 call expiring Jan 15 with 8,237 (12.7% of the window).
By options volume PEP ranks #166 of 679 names in our universe.
Near-the-money options volume (2.2k) is 749% 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 PEP
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $135 | −0.23 | $1.60 Nov 12 | $160.00 | $13,500 | 1.19% | 12.0% | $133.40 | 2,077 | 84 |
Snapshot #9475 · session 2026-11-12 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $135 | −0.28 | $2.46 Nov 12 | $246.00 | $13,500 | 1.82% | 10.4% | $132.54 | 2,716 | 83 |
| 0.20Δ | $130 | −0.17 | $1.28 Nov 12 | $128.00 | $13,000 | 0.98% | 5.6% | $128.72 | 7,361 | 67 |
Snapshot #9475 · session 2026-11-12 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on PEP
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $150 | 0.23 | $1.24 Nov 12 | $124.00 | 0.87% | 8.8% | 6.31% | 64.0% | 4,233 | 724 |
Snapshot #9475 · session 2026-11-12 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $150 | 0.30 | $2.36 Nov 12 | $236.00 | 1.66% | 9.5% | 7.10% | 40.5% | 8,237 | 122 |
| 0.20Δ | $155 | 0.18 | $1.36 Nov 12 | $136.00 | 0.96% | 5.5% | 9.91% | 56.5% | 3,093 | 81 |
Snapshot #9475 · session 2026-11-12 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
PEP volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 25.1%session 2026-11-12
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 64,879 contractssession 2026-11-12
- Largest open-interest line
- $150 call · Jan 15 · 8,237
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #166 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 0.30Δ 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.