SOXL wheel: cash-secured put & covered-call yields
Direxion Daily Semiconductor Bull 3X ETF · ETFs · $128.40 close on Oct 12, 2026
What the Oct 12, 2026 close says about SOXL
At 104.5% implied volatility, the options market is pricing a one-standard-deviation move of about $39.72 (30.9%) in SOXL by Nov 13, 2026, 32 days out.
Selling the $115 put (−0.31Δ) for $9.81 means assignment would leave a cost basis of $105.19, 18.1% below the $128.40 close.
The 67-day 0.30Δ put pays 1.6× the premium of the 32-day one for 2.1× the time — more premium per day on the 32-day contract ($0.307 vs $0.240).
At 0.30Δ on the Nov 13 expiry the put yields 8.53% on its strike and the call 5.19% on spot: puts pay 1.6× what calls do on SOXL this session.
Moving down to the $105 put (−0.21Δ) buys 7.8% more room below spot and keeps 68% of the 0.30Δ premium.
Open interest in the stored window totals 62,136 contracts; the largest single line is the $100 put expiring Dec 18 with 7,117 (11.5% of the window).
By options volume SOXL ranks #56 of 572 names in our universe.
Near-the-money options volume (1.4k) is 17% 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 SOXL
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $115 | −0.31 | $9.81 Oct 12 | $981.00 | $11,500 | 8.53% | 97.3% | $105.19 | 865 | 197 |
| 0.20Δ | $105 | −0.21 | $6.65 Oct 12 | $665.00 | $10,500 | 6.33% | 72.2% | $98.35 | 807 | 214 |
Snapshot #2942 · session 2026-10-12 · 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 | $115 | −0.32 | $16.10 Oct 12 | $1,610.00 | $11,500 | 14.00% | 76.3% | $98.90 | 1,551 | 89 |
| 0.20Δ | $95 | −0.19 | $8.58 Oct 12 | $858.00 | $9,500 | 9.03% | 49.2% | $86.42 | 2,288 | 172 |
Snapshot #2942 · session 2026-10-12 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 67
Covered calls on SOXL
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $157.50 | 0.30 | $6.67 Oct 12 | $667.00 | 5.19% | 59.3% | 27.86% | 317.8% | 3 | 3 |
| 0.20Δ | $175 | 0.20 | $3.55 Oct 12 | $355.00 | 2.76% | 31.5% | 39.06% | 445.5% | 80 | 32 |
Snapshot #2942 · session 2026-10-12 · 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 | $180 | 0.30 | $9.15 Oct 12 | $915.00 | 7.13% | 38.8% | 47.31% | 257.8% | 869 | 53 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #2942 · session 2026-10-12 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 67
SOXL volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 104.5%session 2026-10-12
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Oct 12, 2026
- Open interest, stored window
- 62,136 contractssession 2026-10-12
- Largest open-interest line
- $100 put · Dec 18 · 7,117
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #56 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.
- No contract near 0.20Δ traded this session
- We are building our own daily implied-volatility history (7 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.