VGT wheel: cash-secured put & covered-call yields
Vanguard Information Technology ETF · ETFs · $113.09 close on Nov 12, 2026
What the Nov 12, 2026 close says about VGT
At 30.0% implied volatility, the options market is pricing a one-standard-deviation move of about $10.66 (9.4%) in VGT by Dec 18, 2026, 36 days out.
Selling the $108.13 put (−0.32Δ) for $2.30 means assignment would leave a cost basis of $105.83, 6.4% below the $113.09 close.
The 64-day 0.30Δ put pays 1.3× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.064 vs $0.048).
At 0.30Δ on the Dec 18 expiry the put yields 2.13% on its strike and the call 1.55% on spot: puts pay 1.4× what calls do on VGT this session.
Moving down to the $103.75 put (−0.19Δ) buys 3.9% more room below spot and keeps 61% of the 0.30Δ premium.
Open interest in the stored window totals 19,462 contracts; the largest single line is the $130 call expiring Dec 18 with 3,343 (17.2% of the window).
By options volume VGT ranks #74 of 679 names in our universe.
Near-the-money options volume (782) is 36% below 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 VGT
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $108.13 | −0.32 | $2.30 Nov 12 | $230.00 | $10,813 | 2.13% | 21.6% | $105.83 | 149 | 1 |
| 0.20Δ | $103.75 | −0.19 | $1.40 Nov 12 | $140.00 | $10,375 | 1.35% | 13.7% | $102.35 | 24 | 12 |
Snapshot #9543 · 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 | $106.88 | −0.30 | $3.08 Nov 12 | $308.00 | $10,688 | 2.88% | 16.4% | $103.80 | 4 | 2 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #9543 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on VGT
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $119.38 | 0.29 | $1.75 Nov 12 | $175.00 | 1.55% | 15.7% | 7.11% | 72.1% | 37 | 13 |
| 0.20Δ | $122.50 | 0.18 | $1.05 Nov 12 | $105.00 | 0.93% | 9.4% | 9.25% | 93.8% | 429 | 9 |
Snapshot #9543 · 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 | $122.50 | 0.26 | $1.88 Nov 12 | $188.00 | 1.66% | 9.5% | 9.98% | 56.9% | 15 | 4 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #9543 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
VGT volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 30.0%session 2026-11-12
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 19,462 contractssession 2026-11-12
- Largest open-interest line
- $130 call · Dec 18 · 3,343
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #74 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.
- No contract near 0.20Δ traded this session
- 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.