TSLA wheel: cash-secured put & covered-call yields
Tesla, Inc. Common Stock · Consumer discretionary · $390.84 close on Nov 11, 2026
What the Nov 11, 2026 close says about TSLA
At 42.3% implied volatility, the options market is pricing a one-standard-deviation move of about $47.42 (12.1%) in TSLA by Dec 11, 2026, 30 days out.
Selling the $370 put (−0.30Δ) for $10.10 means assignment would leave a cost basis of $359.90, 7.9% below the $390.84 close.
The 65-day 0.30Δ put pays 1.3× the premium of the 30-day one for 2.2× the time — more premium per day on the 30-day contract ($0.337 vs $0.208).
At 0.30Δ on the Dec 11 expiry the put yields 2.73% on its strike and the call 2.09% on spot: puts pay 1.3× what calls do on TSLA this session.
Moving down to the $355 put (−0.21Δ) buys 3.8% more room below spot and keeps 63% of the 0.30Δ premium.
Open interest in the stored window totals 289,964 contracts; the largest single line is the $400 call expiring Jan 15 with 34,903 (12.0% of the window).
By options volume TSLA ranks #9 of 679 names in our universe.
Near-the-money options volume (9.0k) 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 TSLA
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $370 | −0.30 | $10.10 Nov 11 | $1,010.00 | $37,000 | 2.73% | 33.2% | $359.90 | 801 | 97 |
| 0.20Δ | $355 | −0.21 | $6.36 Nov 11 | $636.00 | $35,500 | 1.79% | 21.8% | $348.64 | 411 | 77 |
Snapshot #9244 · session 2026-11-11 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $360 | −0.28 | $13.55 Nov 11 | $1,355.00 | $36,000 | 3.76% | 21.1% | $346.45 | 13,670 | 148 |
| 0.20Δ | $340 | −0.19 | $9.35 Nov 11 | $935.00 | $34,000 | 2.75% | 15.4% | $330.65 | 6,411 | 591 |
Snapshot #9244 · session 2026-11-11 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 65
Covered calls on TSLA
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $420 | 0.30 | $8.15 Nov 11 | $815.00 | 2.09% | 25.4% | 9.55% | 116.1% | 785 | 345 |
| 0.20Δ | $435 | 0.19 | $4.80 Nov 11 | $480.00 | 1.23% | 14.9% | 12.53% | 152.4% | 452 | 216 |
Snapshot #9244 · session 2026-11-11 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $440 | 0.28 | $10.75 Nov 11 | $1,075.00 | 2.75% | 15.4% | 15.33% | 86.1% | 24,201 | 520 |
| 0.20Δ | $460 | 0.20 | $5.95 Nov 11 | $595.00 | 1.52% | 8.5% | 19.22% | 107.9% | 7,320 | 237 |
Snapshot #9244 · session 2026-11-11 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 65
TSLA volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 42.3%session 2026-11-11
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 289,964 contractssession 2026-11-11
- Largest open-interest line
- $400 call · Jan 15 · 34,903
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #9 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.