RIOT wheel: cash-secured put & covered-call yields
Riot Platforms, Inc. Common Stock · Financials · $17.66 close on Nov 9, 2026
What the Nov 9, 2026 close says about RIOT
At 102.5% implied volatility, the options market is pricing a one-standard-deviation move of about $5.36 (30.4%) in RIOT by Dec 11, 2026, 32 days out.
Selling the $15.50 put (−0.28Δ) for $1.00 means assignment would leave a cost basis of $14.50, 17.9% below the $17.66 close.
The 67-day 0.30Δ put pays 1.9× the premium of the 32-day one for 2.1× the time — more premium per day on the 32-day contract ($0.031 vs $0.028).
At 0.30Δ on the Dec 11 expiry the put yields 6.45% on its strike and the call 4.70% on spot: puts pay 1.4× what calls do on RIOT this session.
Moving down to the $14.50 put (−0.21Δ) buys 5.7% more room below spot and keeps 70% of the 0.30Δ premium.
Open interest in the stored window totals 116,212 contracts; the largest single line is the $25 call expiring Jan 15 with 38,713 (33.3% of the window).
By options volume RIOT ranks #158 of 679 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 RIOT
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $15.50 | −0.28 | $1.00 Nov 9 | $100.00 | $1,550 | 6.45% | 73.6% | $14.50 | 3 | 22 |
| 0.20Δ | $14.50 | −0.21 | $0.70 Nov 9 | $70.00 | $1,450 | 4.83% | 55.1% | $13.80 | 3 | 6 |
Snapshot #8628 · session 2026-11-09 · captured 22:31 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 | $16 | −0.32 | $1.86 Nov 9 | $186.00 | $1,600 | 11.63% | 63.3% | $14.14 | 1,355 | 156 |
| 0.20Δ | $14 | −0.22 | $1.16 Nov 9 | $116.00 | $1,400 | 8.29% | 45.1% | $12.84 | 1,490 | 1,014 |
Snapshot #8628 · session 2026-11-09 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 67
Covered calls on RIOT
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $21.50 | 0.30 | $0.83 Nov 9 | $83.00 | 4.70% | 53.6% | 26.44% | 301.6% | 5 | 2 |
| 0.20Δ | $24 | 0.19 | $0.45 Nov 9 | $45.00 | 2.55% | 29.1% | 38.45% | 438.6% | 5 | 17 |
Snapshot #8628 · session 2026-11-09 · captured 22:31 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 | $24 | 0.28 | $1.06 Nov 9 | $106.00 | 6.00% | 32.7% | 41.90% | 228.3% | 10,649 | 56 |
| 0.20Δ | $26 | 0.22 | $0.76 Nov 9 | $76.00 | 4.30% | 23.4% | 51.53% | 280.7% | 855 | 28 |
Snapshot #8628 · session 2026-11-09 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 67
RIOT volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 102.5%session 2026-11-09
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 116,212 contractssession 2026-11-09
- Largest open-interest line
- $25 call · Jan 15 · 38,713
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #158 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.
- 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.