SOFI wheel: cash-secured put & covered-call yields
SoFi Technologies, Inc. Common Stock · Financials · $16.58 close on Sep 25, 2026
What the Sep 25, 2026 close says about SOFI
At 51.2% implied volatility, the options market is pricing a one-standard-deviation move of about $2.63 (15.8%) in SOFI by Oct 30, 2026, 35 days out.
Selling the $15.50 put (−0.29Δ) for $0.49 means assignment would leave a cost basis of $15.01, 9.5% below the $16.58 close.
The 84-day 0.30Δ put pays 1.7× the premium of the 35-day one for 2.4× the time — more premium per day on the 35-day contract ($0.014 vs $0.010).
At 0.30Δ on the Oct 30 expiry the put yields 3.16% on its strike and the call 2.65% on spot: puts pay 1.2× what calls do on SOFI this session.
Moving down to the $15 put (−0.22Δ) buys 3.0% more room below spot and keeps 71% of the 0.30Δ premium.
Open interest in the stored window totals 122,754 contracts; the largest single line is the $20 call expiring Dec 18 with 18,944 (15.4% of the window).
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 | −0.29 | $0.49 Sep 25 | $49.00 | $1,550 | 3.16% | 33.0% | $15.01 | 2,568 | 343 |
| 0.20Δ | $15 | −0.22 | $0.35 Sep 25 | $35.00 | $1,500 | 2.33% | 24.3% | $14.65 | 4,005 | 583 |
Snapshot #11 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $15 | −0.29 | $0.85 Sep 25 | $85.00 | $1,500 | 5.67% | 24.6% | $14.15 | 13,666 | 130 |
| 0.20Δ | $14 | −0.20 | $0.52 Sep 25 | $52.00 | $1,400 | 3.71% | 16.1% | $13.48 | 3,867 | 145 |
Snapshot #11 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 84
Covered calls on SOFI
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $18.50 | 0.28 | $0.44 Sep 25 | $44.00 | 2.65% | 27.7% | 14.23% | 148.4% | 2,345 | 583 |
| 0.20Δ | $19.50 | 0.19 | $0.27 Sep 25 | $27.00 | 1.63% | 17.0% | 19.24% | 200.6% | 1,274 | 90 |
Snapshot #11 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $20 | 0.28 | $0.68 Sep 25 | $68.00 | 4.10% | 17.8% | 24.73% | 107.5% | 18,944 | 1,909 |
| 0.20Δ | $22 | 0.18 | $0.39 Sep 25 | $39.00 | 2.35% | 10.2% | 35.04% | 152.3% | 6,788 | 142 |
Snapshot #11 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 84
SOFI volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 51.2%session 2026-09-25
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 27, 2026
- Open interest, stored window
- 122,754 contractssession 2026-09-25
- Largest open-interest line
- $20 call · Dec 18 · 18,944
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- Unavailable4
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.
- Not ranked yet — liquidity ranks are computed at the weekly re-rank of the whole universe.