VGT wheel: cash-secured put & covered-call yields
Vanguard Information Technology ETF · ETFs · $125.10 close on Sep 28, 2026
What the Sep 28, 2026 close says about VGT
At 24.3% implied volatility, the options market is pricing a one-standard-deviation move of about $11.60 (9.3%) in VGT by Nov 20, 2026, 53 days out.
Selling the $120 put (−0.30Δ) for $2.58 means assignment would leave a cost basis of $117.42, 6.1% below the $125.10 close.
The 81-day 0.30Δ put pays 1.2× the premium of the 53-day one for 1.5× the time — more premium per day on the 53-day contract ($0.049 vs $0.038).
At 0.30Δ on the Nov 20 expiry the put yields 2.15% on its strike and the call 1.84% on spot: puts pay 1.2× what calls do on VGT this session.
Moving down to the $115 put (−0.19Δ) buys 4.0% more room below spot and keeps 55% of the 0.30Δ premium.
Open interest in the stored window totals 10,939 contracts; the largest single line is the $110 put expiring Nov 20 with 898 (8.2% of the window).
By options volume VGT ranks #96 of 441 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 VGT
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $120 | −0.30 | $2.58 Sep 28 | $258.00 | $12,000 | 2.15% | 14.8% | $117.42 | 431 | 11 |
| 0.20Δ | $115 | −0.19 | $1.43 Sep 28 | $143.00 | $11,500 | 1.24% | 8.6% | $113.57 | 535 | 381 |
Snapshot #269 · session 2026-09-28 · captured 22:42 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 53
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $118.75 | −0.30 | $3.05 Sep 28 | $305.00 | $11,875 | 2.57% | 11.6% | $115.70 | 1 | 1 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #269 · session 2026-09-28 · captured 22:42 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on VGT
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $131.88 | 0.30 | $2.30 Sep 28 | $230.00 | 1.84% | 12.7% | 7.26% | 50.0% | 72 | 4 |
| 0.20Δ | $135 | 0.20 | $1.40 Sep 28 | $140.00 | 1.12% | 7.7% | 9.03% | 62.2% | 618 | 26 |
Snapshot #269 · session 2026-09-28 · captured 22:42 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 53
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $135 | 0.28 | $2.41 Sep 28 | $241.00 | 1.93% | 8.7% | 9.84% | 44.3% | 390 | 8 |
| 0.20Δ | $140 | 0.18 | $1.35 Sep 28 | $135.00 | 1.08% | 4.9% | 12.99% | 58.5% | 194 | 3 |
Snapshot #269 · session 2026-09-28 · captured 22:42 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
VGT volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 24.3%session 2026-09-28
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 10,939 contractssession 2026-09-28
- Largest open-interest line
- $110 put · Nov 20 · 898
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #96 of 441 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 (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.