TEL wheel: cash-secured put & covered-call yields
TE Connectivity plc · Industrials · $210.25 close on Oct 14, 2026
What the Oct 14, 2026 close says about TEL
At 48.3% implied volatility, the options market is pricing a one-standard-deviation move of about $32.32 (15.4%) in TEL by Nov 20, 2026, 37 days out.
Selling the $200 put (−0.29Δ) for $6.31 means assignment would leave a cost basis of $193.69, 7.9% below the $210.25 close.
The 65-day 0.30Δ put pays 1.3× the premium of the 37-day one for 1.8× the time — more premium per day on the 37-day contract ($0.171 vs $0.122).
At 0.30Δ on the Nov 20 expiry the put yields 3.15% on its strike and the call 2.19% on spot: puts pay 1.4× what calls do on TEL this session.
Open interest in the stored window totals 6,346 contracts; the largest single line is the $210 put expiring Dec 18 with 2,115 (33.3% of the window).
TEL goes ex-dividend on Nov 20, 2026 ($0.78 declared), inside the Nov 20 covered-call window. A short call that is in the money before an ex-date can be assigned early.
By options volume TEL ranks #216 of 572 names in our universe.
Near-the-money options volume (78) is 53% below its 2-session average.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on TEL
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $200 | −0.29 | $6.31 Oct 14 | $631.00 | $20,000 | 3.15% | 31.1% | $193.69 | 944 | 53 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #3530 · session 2026-10-14 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 37
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $200 | −0.30 | $7.90 Oct 14 | $790.00 | $20,000 | 3.95% | 22.2% | $192.10 | 295 | 1 |
| 0.20Δ | $190 | −0.21 | $5.10 Oct 14 | $510.00 | $19,000 | 2.68% | 15.1% | $184.90 | 141 | 1 |
Snapshot #3530 · session 2026-10-14 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 65
Covered calls on TEL
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $230 | 0.31 | $4.60 Oct 14 | $460.00 | 2.19% | 21.6% | 11.58% | 114.2% | 143 | 2 |
| 0.20Δ | $240 | 0.23 | $2.80 Oct 14 | $280.00 | 1.33% | 13.1% | 15.48% | 152.7% | 580 | 5 |
Snapshot #3530 · session 2026-10-14 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 37
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable2 | |||||||||
| 0.20Δ | $240 | 0.24 | $4.80 Oct 14 | $480.00 | 2.28% | 12.8% | 16.43% | 92.3% | 124 | 1 |
Snapshot #3530 · session 2026-10-14 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 65
TEL volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 48.3%session 2026-10-14
- IV rank / IV percentile
- Unavailable3
- Next earnings
- Unavailable4
- Next ex-dividend
- Ex-div Nov 20, 2026 · $0.78 declaredchecked Oct 12, 2026
- Open interest, stored window
- 6,346 contractssession 2026-10-14
- Largest open-interest line
- $210 put · Dec 18 · 2,115
- Bid/ask spread
- Unavailable5
- Options liquidity rank
- #216 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
- No contract near 0.30Δ traded this session
- We are building our own daily implied-volatility history (3 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.