SNDK wheel: cash-secured put & covered-call yields
Sandisk Corporation Common Stock · Technology · $937.46 close on Nov 12, 2026
What the Nov 12, 2026 close says about SNDK
At 89.2% implied volatility, the options market is pricing a one-standard-deviation move of about $262.72 (28.0%) in SNDK by Dec 18, 2026, 36 days out.
Selling the $850 put (−0.30Δ) for $58.90 means assignment would leave a cost basis of $791.10, 15.6% below the $937.46 close.
The 64-day 0.30Δ put pays 1.3× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($1.636 vs $1.214).
At 0.30Δ on the Dec 18 expiry the put yields 6.93% on its strike and the call 4.14% on spot: puts pay 1.7× what calls do on SNDK this session.
Moving down to the $790 put (−0.22Δ) buys 6.4% more room below spot and keeps 71% of the 0.30Δ premium.
Open interest in the stored window totals 75,131 contracts; the largest single line is the $1140 call expiring Jan 15 with 3,394 (4.5% of the window).
By options volume SNDK ranks #122 of 679 names in our universe.
Near-the-money options volume (1.2k) is 145% above 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 SNDK
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $850 | −0.30 | $58.90 Nov 12 | $5,890.00 | $85,000 | 6.93% | 70.3% | $791.10 | 402 | 198 |
| 0.20Δ | $790 | −0.22 | $41.75 Nov 12 | $4,175.00 | $79,000 | 5.28% | 53.6% | $748.25 | 175 | 4 |
Snapshot #9505 · session 2026-11-12 · captured 22:21 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 | $840 | −0.30 | $77.71 Nov 12 | $7,771.00 | $84,000 | 9.25% | 52.8% | $762.29 | 374 | 8 |
| 0.20Δ | $750 | −0.21 | $49.50 Nov 12 | $4,950.00 | $75,000 | 6.60% | 37.6% | $700.50 | 954 | 66 |
Snapshot #9505 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on SNDK
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $1120 | 0.30 | $38.84 Nov 12 | $3,884.00 | 4.14% | 42.0% | 23.61% | 239.4% | 300 | 64 |
| 0.20Δ | $1210 | 0.21 | $27.00 Nov 12 | $2,700.00 | 2.88% | 29.2% | 31.95% | 324.0% | 125 | 4 |
Snapshot #9505 · session 2026-11-12 · captured 22:21 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 | $1190 | 0.30 | $51.47 Nov 12 | $5,147.00 | 5.49% | 31.3% | 32.43% | 184.9% | 136 | 3 |
| 0.20Δ | $1380 | 0.17 | $26.00 Nov 12 | $2,600.00 | 2.77% | 15.8% | 49.98% | 285.0% | 165 | 3 |
Snapshot #9505 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
SNDK volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 89.2%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 75,131 contractssession 2026-11-12
- Largest open-interest line
- $1140 call · Jan 15 · 3,394
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #122 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 (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.