TWST wheel: cash-secured put & covered-call yields
Twist Bioscience Corporation Common Stock · Healthcare · $151.86 close on Oct 12, 2026
What the Oct 12, 2026 close says about TWST
At 92.1% implied volatility, the options market is pricing a one-standard-deviation move of about $45.73 (30.1%) in TWST by Nov 20, 2026, 39 days out.
Selling the $135 put (−0.29Δ) for $10.50 means assignment would leave a cost basis of $124.50, 18.0% below the $151.86 close.
At 0.30Δ on the Nov 20 expiry the put yields 7.78% on its strike and the call 4.02% on spot: puts pay 1.9× what calls do on TWST this session.
Moving down to the $125 put (−0.21Δ) buys 6.6% more room below spot and keeps 50% of the 0.30Δ premium.
Open interest in the stored window totals 8,873 contracts; the largest single line is the $220 call expiring Nov 20 with 1,208 (13.6% of the window).
By options volume TWST ranks #194 of 572 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 TWST
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $135 | −0.29 | $10.50 Oct 12 | $1,050.00 | $13,500 | 7.78% | 72.8% | $124.50 | 63 | 161 |
| 0.20Δ | $125 | −0.21 | $5.30 Oct 12 | $530.00 | $12,500 | 4.24% | 39.7% | $119.70 | 472 | 13 |
Snapshot #2964 · session 2026-10-12 · captured 22:32 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 39
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $120 | −0.21 | $10.40 Oct 12 | $1,040.00 | $12,000 | 8.67% | 33.3% | $109.60 | 21 | 4 |
Snapshot #2964 · session 2026-10-12 · captured 22:32 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 95
Covered calls on TWST
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $190 | 0.29 | $6.10 Oct 12 | $610.00 | 4.02% | 37.6% | 29.13% | 272.6% | 38 | 2 |
| 0.20Δ | $210 | 0.18 | $3.70 Oct 12 | $370.00 | 2.44% | 22.8% | 40.72% | 381.1% | 33 | 1 |
Snapshot #2964 · session 2026-10-12 · captured 22:32 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 39
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $220 | 0.27 | $12.00 Oct 12 | $1,200.00 | 7.90% | 30.4% | 52.77% | 202.8% | 48 | 1 |
| 0.20Δ | Unavailable2 | |||||||||
Snapshot #2964 · session 2026-10-12 · captured 22:32 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 95
TWST volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 92.1%session 2026-10-12
- IV rank / IV percentile
- Unavailable3
- Next earnings
- Unavailable4
- Next ex-dividend
- None announcedchecked Oct 12, 2026
- Open interest, stored window
- 8,873 contractssession 2026-10-12
- Largest open-interest line
- $220 call · Nov 20 · 1,208
- Bid/ask spread
- Unavailable5
- Options liquidity rank
- #194 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 0.30Δ traded this session
- No contract near 0.20Δ traded this session
- 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.