PWR wheel: cash-secured put & covered-call yields
Quanta Services, Inc. · Industrials · $606.16 close on Nov 12, 2026
What the Nov 12, 2026 close says about PWR
At 51.6% implied volatility, the options market is pricing a one-standard-deviation move of about $98.13 (16.2%) in PWR by Dec 18, 2026, 36 days out.
Selling the $580 put (−0.35Δ) for $24.80 means assignment would leave a cost basis of $555.20, 8.4% below the $606.16 close.
At 0.30Δ on the Dec 18 expiry the put yields 4.28% on its strike and the call 2.77% on spot: puts pay 1.5× what calls do on PWR this session.
Moving down to the $540 put (−0.21Δ) buys 6.6% more room below spot and keeps 51% of the 0.30Δ premium.
Open interest in the stored window totals 11,489 contracts; the largest single line is the $520 put expiring Jan 15 with 2,416 (21.0% of the window).
By options volume PWR ranks #256 of 679 names in our universe.
Near-the-money options volume (292) is 17% below 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 PWR
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $580 | −0.35 | $24.80 Nov 12 | $2,480.00 | $58,000 | 4.28% | 43.4% | $555.20 | 296 | 20 |
| 0.20Δ | $540 | −0.21 | $12.77 Nov 12 | $1,277.00 | $54,000 | 2.36% | 24.0% | $527.23 | 242 | 7 |
Snapshot #9481 · 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 | $520 | −0.19 | $15.70 Nov 12 | $1,570.00 | $52,000 | 3.02% | 17.2% | $504.30 | 2,416 | 9 |
Snapshot #9481 · session 2026-11-12 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on PWR
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $670 | 0.28 | $16.80 Nov 12 | $1,680.00 | 2.77% | 28.1% | 13.30% | 134.9% | 14 | 85 |
| 0.20Δ | $700 | 0.19 | $8.65 Nov 12 | $865.00 | 1.43% | 14.5% | 16.91% | 171.4% | 434 | 227 |
Snapshot #9481 · 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 | $680 | 0.32 | $22.40 Nov 12 | $2,240.00 | 3.70% | 21.1% | 15.88% | 90.5% | 52 | 13 |
| 0.20Δ | $720 | 0.22 | $13.73 Nov 12 | $1,373.00 | 2.27% | 12.9% | 21.05% | 120.0% | 86 | 3 |
Snapshot #9481 · session 2026-11-12 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
PWR volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 51.6%session 2026-11-12
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 11,489 contractssession 2026-11-12
- Largest open-interest line
- $520 put · Jan 15 · 2,416
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #256 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.