PLTR wheel: cash-secured put & covered-call yields
Palantir Technologies Inc. Class A Common Stock · Technology · $189.67 close on Sep 25, 2026
What the Sep 25, 2026 close says about PLTR
At 47.0% implied volatility, the options market is pricing a one-standard-deviation move of about $27.60 (14.6%) in PLTR by Oct 30, 2026, 35 days out.
Selling the $177.50 put (−0.29Δ) for $4.90 means assignment would leave a cost basis of $172.60, 9.0% below the $189.67 close.
The 84-day 0.30Δ put pays 2.0× the premium of the 35-day one for 2.4× the time — more premium per day on the 35-day contract ($0.140 vs $0.119).
At 0.30Δ on the Oct 30 expiry the put yields 2.76% on its strike and the call 2.64% on spot: puts and calls pay within 10% of each other on PLTR this session.
Moving down to the $170 put (−0.20Δ) buys 4.0% more room below spot and keeps 70% of the 0.30Δ premium.
Open interest in the stored window totals 167,789 contracts; the largest single line is the $140 put expiring Dec 18 with 58,255 (34.7% of the window).
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on PLTR
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $177.50 | −0.29 | $4.90 Sep 25 | $490.00 | $17,750 | 2.76% | 28.8% | $172.60 | 81 | 22 |
| 0.20Δ | $170 | −0.20 | $3.42 Sep 25 | $342.00 | $17,000 | 2.01% | 21.0% | $166.58 | 1,629 | 872 |
Snapshot #21 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $170 | −0.28 | $10.00 Sep 25 | $1,000.00 | $17,000 | 5.88% | 25.6% | $160.00 | 3,494 | 111 |
| 0.20Δ | $160 | −0.21 | $7.08 Sep 25 | $708.00 | $16,000 | 4.42% | 19.2% | $152.92 | 5,120 | 124 |
Snapshot #21 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 84
Covered calls on PLTR
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $207.50 | 0.30 | $5.00 Sep 25 | $500.00 | 2.64% | 27.5% | 12.04% | 125.5% | 24 | 22 |
| 0.20Δ | $215 | 0.22 | $3.19 Sep 25 | $319.00 | 1.68% | 17.5% | 15.04% | 156.8% | 392 | 87 |
Snapshot #21 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $230 | 0.28 | $7.90 Sep 25 | $790.00 | 4.17% | 18.1% | 25.43% | 110.5% | 3,586 | 190 |
| 0.20Δ | $250 | 0.19 | $4.77 Sep 25 | $477.00 | 2.51% | 10.9% | 34.32% | 149.1% | 2,868 | 101 |
Snapshot #21 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 84
PLTR volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 47.0%session 2026-09-25
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 27, 2026
- Open interest, stored window
- 167,789 contractssession 2026-09-25
- Largest open-interest line
- $140 put · Dec 18 · 58,255
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- Unavailable4
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.
- Not ranked yet — liquidity ranks are computed at the weekly re-rank of the whole universe.