VRT wheel: cash-secured put & covered-call yields
Vertiv Holdings Co Class A Common Stock · Technology · $209.64 close on Nov 12, 2026
What the Nov 12, 2026 close says about VRT
At 65.0% implied volatility, the options market is pricing a one-standard-deviation move of about $42.81 (20.4%) in VRT by Dec 18, 2026, 36 days out.
Selling the $195 put (−0.31Δ) for $9.80 means assignment would leave a cost basis of $185.20, 11.7% below the $209.64 close.
The 64-day 0.30Δ put pays 1.2× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.272 vs $0.187).
At 0.30Δ on the Dec 18 expiry the put yields 5.03% on its strike and the call 2.86% on spot: puts pay 1.8× what calls do on VRT this session.
Moving down to the $180 put (−0.19Δ) buys 7.2% more room below spot and keeps 53% of the 0.30Δ premium.
Open interest in the stored window totals 103,283 contracts; the largest single line is the $230 call expiring Jan 15 with 19,631 (19.0% of the window).
By options volume VRT ranks #150 of 679 names in our universe.
Near-the-money options volume (881) is 150% above 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 VRT
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $195 | −0.31 | $9.80 Nov 12 | $980.00 | $19,500 | 5.03% | 51.0% | $185.20 | 1,247 | 90 |
| 0.20Δ | $180 | −0.19 | $5.20 Nov 12 | $520.00 | $18,000 | 2.89% | 29.3% | $174.80 | 2,305 | 31 |
Snapshot #9545 · 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 | $190 | −0.29 | $11.95 Nov 12 | $1,195.00 | $19,000 | 6.29% | 35.9% | $178.05 | 1,663 | 24 |
| 0.20Δ | $175 | −0.20 | $7.20 Nov 12 | $720.00 | $17,500 | 4.11% | 23.5% | $167.80 | 1,262 | 22 |
Snapshot #9545 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on VRT
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $240 | 0.28 | $6.00 Nov 12 | $600.00 | 2.86% | 29.0% | 17.34% | 175.8% | 2,107 | 44 |
| 0.20Δ | $250 | 0.20 | $4.00 Nov 12 | $400.00 | 1.91% | 19.3% | 21.16% | 214.5% | 1,727 | 199 |
Snapshot #9545 · 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 | $250 | 0.28 | $8.15 Nov 12 | $815.00 | 3.89% | 22.2% | 23.14% | 132.0% | 3,478 | 182 |
| 0.20Δ | $270 | 0.19 | $5.02 Nov 12 | $502.00 | 2.39% | 13.7% | 31.19% | 177.9% | 1,921 | 53 |
Snapshot #9545 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
VRT volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 65.0%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 103,283 contractssession 2026-11-12
- Largest open-interest line
- $230 call · Jan 15 · 19,631
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #150 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.