STX wheel: cash-secured put & covered-call yields
Seagate Technology Holdings PLC Ordinary Shares (Ireland) · Technology · $545.14 close on Nov 12, 2026
What the Nov 12, 2026 close says about STX
At 79.9% implied volatility, the options market is pricing a one-standard-deviation move of about $136.80 (25.1%) in STX by Dec 18, 2026, 36 days out.
Selling the $500 put (−0.31Δ) for $30.10 means assignment would leave a cost basis of $469.90, 13.8% below the $545.14 close.
The 64-day 0.30Δ put pays 1.4× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.836 vs $0.669).
At 0.30Δ on the Dec 18 expiry the put yields 6.02% on its strike and the call 4.22% on spot: puts pay 1.4× what calls do on STX this session.
Moving down to the $460 put (−0.20Δ) buys 7.3% more room below spot and keeps 61% of the 0.30Δ premium.
Open interest in the stored window totals 22,984 contracts; the largest single line is the $700 call expiring Jan 15 with 1,846 (8.0% of the window).
By options volume STX ranks #281 of 679 names in our universe.
Near-the-money options volume (287) 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 STX
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $500 | −0.31 | $30.10 Nov 12 | $3,010.00 | $50,000 | 6.02% | 61.0% | $469.90 | 377 | 7 |
| 0.20Δ | $460 | −0.20 | $18.40 Nov 12 | $1,840.00 | $46,000 | 4.00% | 40.6% | $441.60 | 88 | 35 |
Snapshot #9517 · 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 | $500 | −0.32 | $42.80 Nov 12 | $4,280.00 | $50,000 | 8.56% | 48.8% | $457.20 | 769 | 87 |
| 0.20Δ | $440 | −0.20 | $22.12 Nov 12 | $2,212.00 | $44,000 | 5.03% | 28.7% | $417.88 | 98 | 30 |
Snapshot #9517 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on STX
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $630 | 0.31 | $23.00 Nov 12 | $2,300.00 | 4.22% | 42.8% | 19.79% | 200.6% | 315 | 9 |
| 0.20Δ | $680 | 0.20 | $14.00 Nov 12 | $1,400.00 | 2.57% | 26.0% | 27.31% | 276.9% | 177 | 1 |
Snapshot #9517 · 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 | $660 | 0.32 | $29.90 Nov 12 | $2,990.00 | 5.48% | 31.3% | 26.55% | 151.4% | 244 | 5 |
| 0.20Δ | $740 | 0.18 | $14.50 Nov 12 | $1,450.00 | 2.66% | 15.2% | 38.40% | 219.0% | 139 | 13 |
Snapshot #9517 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
STX volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 79.9%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- Ex-div Dec 23, 2026 · $0.76 declaredchecked Nov 9, 2026
- Open interest, stored window
- 22,984 contractssession 2026-11-12
- Largest open-interest line
- $700 call · Jan 15 · 1,846
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #281 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.