TMO wheel: cash-secured put & covered-call yields
Thermo Fisher Scientific, Inc. · Technology · $679.38 close on Oct 19, 2026
What the Oct 19, 2026 close says about TMO
At 36.6% implied volatility, the options market is pricing a one-standard-deviation move of about $73.57 (10.8%) in TMO by Nov 20, 2026, 32 days out.
Selling the $650 put (−0.32Δ) for $17.80 means assignment would leave a cost basis of $632.20, 6.9% below the $679.38 close.
The 60-day 0.30Δ put pays 1.1× the premium of the 32-day one for 1.9× the time — more premium per day on the 32-day contract ($0.556 vs $0.333).
At 0.30Δ on the Nov 20 expiry the put yields 2.74% on its strike and the call 2.25% on spot: puts pay 1.2× what calls do on TMO this session.
Moving down to the $620 put (−0.19Δ) buys 4.4% more room below spot and keeps 52% of the 0.30Δ premium.
Open interest in the stored window totals 8,441 contracts; the largest single line is the $730 call expiring Nov 20 with 2,828 (33.5% of the window).
By options volume TMO ranks #126 of 608 names in our universe.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on TMO
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $650 | −0.32 | $17.80 Oct 19 | $1,780.00 | $65,000 | 2.74% | 31.2% | $632.20 | 87 | 3 |
| 0.20Δ | $620 | −0.19 | $9.20 Oct 19 | $920.00 | $62,000 | 1.48% | 16.9% | $610.80 | 159 | 71 |
Snapshot #4393 · session 2026-10-19 · captured 22:32 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 | $640 | −0.30 | $20.00 Oct 19 | $2,000.00 | $64,000 | 3.13% | 19.0% | $620.00 | 55 | 7 |
| 0.20Δ | $610 | −0.20 | $11.60 Oct 19 | $1,160.00 | $61,000 | 1.90% | 11.6% | $598.40 | 391 | 148 |
Snapshot #4393 · session 2026-10-19 · captured 22:32 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 60
Covered calls on TMO
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $720 | 0.32 | $15.30 Oct 19 | $1,530.00 | 2.25% | 25.7% | 8.23% | 93.9% | 40 | 37 |
| 0.20Δ | $750 | 0.20 | $8.70 Oct 19 | $870.00 | 1.28% | 14.6% | 11.68% | 133.2% | 99 | 3 |
Snapshot #4393 · session 2026-10-19 · captured 22:32 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 | $740 | 0.30 | $17.00 Oct 19 | $1,700.00 | 2.50% | 15.2% | 11.43% | 69.5% | 125 | 1 |
| 0.20Δ | $760 | 0.23 | $12.90 Oct 19 | $1,290.00 | 1.90% | 11.6% | 13.77% | 83.7% | 102 | 2 |
Snapshot #4393 · session 2026-10-19 · captured 22:32 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 60
TMO volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 36.6%session 2026-10-19
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Oct 19, 2026
- Open interest, stored window
- 8,441 contractssession 2026-10-19
- Largest open-interest line
- $730 call · Nov 20 · 2,828
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #126 of 608 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 (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.