SOFI wheel: cash-secured put & covered-call yields
SoFi Technologies, Inc. Common Stock · Financials · $16.27 close on Nov 11, 2026
What the Nov 11, 2026 close says about SOFI
At 49.1% implied volatility, the options market is pricing a one-standard-deviation move of about $2.29 (14.1%) in SOFI by Dec 11, 2026, 30 days out.
Selling the $15.50 put (−0.33Δ) for $0.55 means assignment would leave a cost basis of $14.95, 8.1% below the $16.27 close.
The 65-day 0.30Δ put pays 1.3× the premium of the 30-day one for 2.2× the time — more premium per day on the 30-day contract ($0.018 vs $0.011).
At 0.30Δ on the Dec 11 expiry the put yields 3.55% on its strike and the call 2.83% on spot: puts pay 1.3× what calls do on SOFI this session.
Moving down to the $14.50 put (−0.19Δ) buys 6.1% more room below spot and keeps 51% of the 0.30Δ premium.
Open interest in the stored window totals 327,524 contracts; the largest single line is the $20 call expiring Jan 15 with 120,065 (36.7% of the window).
By options volume SOFI ranks #27 of 679 names in our universe.
Near-the-money options volume (3.9k) is in line with 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 SOFI
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $15.50 | −0.33 | $0.55 Nov 11 | $55.00 | $1,550 | 3.55% | 43.2% | $14.95 | 865 | 167 |
| 0.20Δ | $14.50 | −0.19 | $0.28 Nov 11 | $28.00 | $1,450 | 1.93% | 23.5% | $14.22 | 425 | 69 |
Snapshot #9225 · session 2026-11-11 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $15 | −0.30 | $0.72 Nov 11 | $72.00 | $1,500 | 4.80% | 27.0% | $14.28 | 71,163 | 1,016 |
| 0.20Δ | $14 | −0.20 | $0.45 Nov 11 | $45.00 | $1,400 | 3.21% | 18.0% | $13.55 | 12,621 | 175 |
Snapshot #9225 · session 2026-11-11 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 65
Covered calls on SOFI
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $17.50 | 0.33 | $0.46 Nov 11 | $46.00 | 2.83% | 34.4% | 10.39% | 126.4% | 2,989 | 207 |
| 0.20Δ | $18.50 | 0.20 | $0.25 Nov 11 | $25.00 | 1.54% | 18.7% | 15.24% | 185.5% | 1,840 | 496 |
Snapshot #9225 · session 2026-11-11 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $19 | 0.26 | $0.47 Nov 11 | $47.00 | 2.89% | 16.2% | 19.67% | 110.4% | 11,963 | 1,682 |
| 0.20Δ | $20 | 0.18 | $0.31 Nov 11 | $31.00 | 1.91% | 10.7% | 24.83% | 139.4% | 120,065 | 1,276 |
Snapshot #9225 · session 2026-11-11 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 65
SOFI volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 49.1%session 2026-11-11
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 327,524 contractssession 2026-11-11
- Largest open-interest line
- $20 call · Jan 15 · 120,065
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #27 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.