SITM wheel: cash-secured put & covered-call yields
SiTime Corporation Common Stock · Technology · $570.07 close on Oct 12, 2026
What the Oct 12, 2026 close says about SITM
At 85.8% implied volatility, the options market is pricing a one-standard-deviation move of about $159.84 (28.0%) in SITM by Nov 20, 2026, 39 days out.
Selling the $520 put (−0.31Δ) for $36.10 means assignment would leave a cost basis of $483.90, 15.1% below the $570.07 close.
The 67-day 0.30Δ put pays 1.3× the premium of the 39-day one for 1.7× the time — more premium per day on the 39-day contract ($0.926 vs $0.706).
At 0.30Δ on the Nov 20 expiry the put yields 6.94% on its strike and the call 4.30% on spot: puts pay 1.6× what calls do on SITM this session.
Moving down to the $470 put (−0.19Δ) buys 8.8% more room below spot and keeps 56% of the 0.30Δ premium.
Open interest in the stored window totals 2,956 contracts; the largest single line is the $680 call expiring Nov 20 with 249 (8.4% of the window).
By options volume SITM ranks #250 of 572 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 SITM
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $520 | −0.31 | $36.10 Oct 12 | $3,610.00 | $52,000 | 6.94% | 65.0% | $483.90 | 74 | 3 |
| 0.20Δ | $470 | −0.19 | $20.29 Oct 12 | $2,029.00 | $47,000 | 4.32% | 40.4% | $449.71 | 12 | 3 |
Snapshot #2931 · session 2026-10-12 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 39
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $520 | −0.32 | $47.31 Oct 12 | $4,731.00 | $52,000 | 9.10% | 49.6% | $472.69 | 8 | 2 |
| 0.20Δ | $450 | −0.18 | $21.00 Oct 12 | $2,100.00 | $45,000 | 4.67% | 25.4% | $429.00 | 21 | 6 |
Snapshot #2931 · session 2026-10-12 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 67
Covered calls on SITM
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $700 | 0.29 | $24.50 Oct 12 | $2,450.00 | 4.30% | 40.2% | 27.09% | 253.5% | 112 | 6 |
| 0.20Δ | $760 | 0.19 | $14.37 Oct 12 | $1,437.00 | 2.52% | 23.6% | 35.84% | 335.4% | 34 | 1 |
Snapshot #2931 · session 2026-10-12 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 39
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $720 | 0.31 | $32.60 Oct 12 | $3,260.00 | 5.72% | 31.2% | 32.02% | 174.4% | 5 | 1 |
| 0.20Δ | $810 | 0.21 | $17.80 Oct 12 | $1,780.00 | 3.12% | 17.0% | 45.21% | 246.3% | 3 | 2 |
Snapshot #2931 · session 2026-10-12 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 67
SITM volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 85.8%session 2026-10-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Oct 12, 2026
- Open interest, stored window
- 2,956 contractssession 2026-10-12
- Largest open-interest line
- $680 call · Nov 20 · 249
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #250 of 572 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.