PLD wheel: cash-secured put & covered-call yields
PROLOGIS, INC. · Real estate · $128.55 close on Nov 12, 2026
What the Nov 12, 2026 close says about PLD
At 24.0% implied volatility, the options market is pricing a one-standard-deviation move of about $9.67 (7.5%) in PLD by Dec 18, 2026, 36 days out.
Selling the $125 put (−0.33Δ) for $2.05 means assignment would leave a cost basis of $122.95, 4.4% below the $128.55 close.
Moving down to the $120 put (−0.17Δ) buys 3.9% more room below spot and keeps 47% of the 0.30Δ premium.
Open interest in the stored window totals 12,948 contracts; the largest single line is the $135 call expiring Jan 15 with 1,413 (10.9% of the window).
By options volume PLD ranks #239 of 679 names in our universe.
Near-the-money options volume (251) is 59% 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 PLD
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $125 | −0.33 | $2.05 Nov 12 | $205.00 | $12,500 | 1.64% | 16.6% | $122.95 | 1,213 | 27 |
| 0.20Δ | $120 | −0.17 | $0.97 Nov 12 | $97.00 | $12,000 | 0.81% | 8.2% | $119.03 | 812 | 12 |
Snapshot #9478 · 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 | Unavailable1 | |||||||||
| 0.20Δ | $120 | −0.22 | $1.68 Nov 12 | $168.00 | $12,000 | 1.40% | 8.0% | $118.32 | 1,144 | 10 |
Snapshot #9478 · session 2026-11-12 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on PLD
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $135 | 0.25 | $1.30 Nov 12 | $130.00 | 1.01% | 10.3% | 6.03% | 61.1% | 756 | 17 |
Snapshot #9478 · 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 | $135 | 0.31 | $2.35 Nov 12 | $235.00 | 1.83% | 10.4% | 6.85% | 39.0% | 1,413 | 3 |
| 0.20Δ | $140 | 0.17 | $1.08 Nov 12 | $108.00 | 0.84% | 4.8% | 9.75% | 55.6% | 1,397 | 8 |
Snapshot #9478 · session 2026-11-12 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
PLD volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 24.0%session 2026-11-12
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 12,948 contractssession 2026-11-12
- Largest open-interest line
- $135 call · Jan 15 · 1,413
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #239 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.