QCOM wheel: cash-secured put & covered-call yields
Qualcomm Inc · Technology · $187.48 close on Sep 28, 2026
What the Sep 28, 2026 close says about QCOM
At 45.4% implied volatility, the options market is pricing a one-standard-deviation move of about $25.20 (13.4%) in QCOM by Oct 30, 2026, 32 days out.
Selling the $175 put (−0.28Δ) for $5.10 means assignment would leave a cost basis of $169.90, 9.4% below the $187.48 close.
The 81-day 0.30Δ put pays 1.9× the premium of the 32-day one for 2.5× the time — more premium per day on the 32-day contract ($0.159 vs $0.119).
At 0.30Δ on the Oct 30 expiry the put yields 2.91% on its strike and the call 2.69% on spot: puts and calls pay within 10% of each other on QCOM this session.
Moving down to the $170 put (−0.22Δ) buys 2.7% more room below spot and keeps 71% of the 0.30Δ premium.
Open interest in the stored window totals 72,976 contracts; the largest single line is the $200 call expiring Dec 18 with 11,044 (15.1% of the window).
By options volume QCOM ranks #61 of 441 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 QCOM
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $175 | −0.28 | $5.10 Sep 28 | $510.00 | $17,500 | 2.91% | 33.2% | $169.90 | 346 | 218 |
| 0.20Δ | $170 | −0.22 | $3.60 Sep 28 | $360.00 | $17,000 | 2.12% | 24.2% | $166.40 | 280 | 228 |
Snapshot #218 · session 2026-09-28 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $170 | −0.29 | $9.65 Sep 28 | $965.00 | $17,000 | 5.68% | 25.6% | $160.35 | 1,254 | 29 |
| 0.20Δ | $160 | −0.21 | $6.30 Sep 28 | $630.00 | $16,000 | 3.94% | 17.7% | $153.70 | 4,523 | 68 |
Snapshot #218 · session 2026-09-28 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on QCOM
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $205 | 0.31 | $5.05 Sep 28 | $505.00 | 2.69% | 30.7% | 12.04% | 137.3% | 99 | 64 |
| 0.20Δ | $215 | 0.21 | $3.17 Sep 28 | $317.00 | 1.69% | 19.3% | 16.37% | 186.7% | 654 | 160 |
Snapshot #218 · session 2026-09-28 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $220 | 0.31 | $8.25 Sep 28 | $825.00 | 4.40% | 19.8% | 21.75% | 98.0% | 5,440 | 125 |
| 0.20Δ | $240 | 0.21 | $5.00 Sep 28 | $500.00 | 2.67% | 12.0% | 30.68% | 138.3% | 2,167 | 21 |
Snapshot #218 · session 2026-09-28 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
QCOM volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 45.4%session 2026-09-28
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 72,976 contractssession 2026-09-28
- Largest open-interest line
- $200 call · Dec 18 · 11,044
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #61 of 441 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.