SOXX wheel: cash-secured put & covered-call yields
iShares Semiconductor ETF · ETFs · $154.99 close on Nov 12, 2026
What the Nov 12, 2026 close says about SOXX
At 51.8% implied volatility, the options market is pricing a one-standard-deviation move of about $25.20 (16.3%) in SOXX by Dec 18, 2026, 36 days out.
Selling the $145 put (−0.30Δ) for $5.75 means assignment would leave a cost basis of $139.25, 10.2% below the $154.99 close.
The 64-day 0.30Δ put pays 1.2× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.160 vs $0.109).
At 0.30Δ on the Dec 18 expiry the put yields 3.97% on its strike and the call 2.58% on spot: puts pay 1.5× what calls do on SOXX this session.
Moving down to the $136.67 put (−0.20Δ) buys 5.4% more room below spot and keeps 56% of the 0.30Δ premium.
Open interest in the stored window totals 506,781 contracts; the largest single line is the $170 call expiring Dec 18 with 48,915 (9.7% of the window).
By options volume SOXX ranks #119 of 679 names in our universe.
Near-the-money options volume (17k) is 1714% 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 SOXX
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $145 | −0.30 | $5.75 Nov 12 | $575.00 | $14,500 | 3.97% | 40.2% | $139.25 | 593 | 67 |
| 0.20Δ | $136.67 | −0.20 | $3.20 Nov 12 | $320.00 | $13,667 | 2.34% | 23.7% | $133.47 | 2,526 | 7 |
Snapshot #9509 · 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 | $143.33 | −0.30 | $7.00 Nov 12 | $700.00 | $14,333 | 4.88% | 27.9% | $136.33 | 1,110 | 3,014 |
| 0.20Δ | $135 | −0.21 | $4.70 Nov 12 | $470.00 | $13,500 | 3.48% | 19.9% | $130.30 | 1,104 | 91 |
Snapshot #9509 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on SOXX
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $170 | 0.29 | $4.00 Nov 12 | $400.00 | 2.58% | 26.2% | 12.27% | 124.4% | 48,915 | 1,124 |
| 0.20Δ | $178.33 | 0.19 | $2.30 Nov 12 | $230.00 | 1.48% | 15.0% | 16.54% | 167.7% | 319 | 8 |
Snapshot #9509 · 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 | $171.67 | 0.34 | $5.20 Nov 12 | $520.00 | 3.36% | 19.1% | 14.12% | 80.5% | 663 | 49 |
| 0.20Δ | $185 | 0.19 | $2.90 Nov 12 | $290.00 | 1.87% | 10.7% | 21.23% | 121.1% | 2,295 | 1 |
Snapshot #9509 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
SOXX volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 51.8%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 506,781 contractssession 2026-11-12
- Largest open-interest line
- $170 call · Dec 18 · 48,915
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #119 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.