WDAY wheel: cash-secured put & covered-call yields
Workday, Inc. Class A Common Stock · Technology · $188.60 close on Sep 28, 2026
What the Sep 28, 2026 close says about WDAY
At 50.7% implied volatility, the options market is pricing a one-standard-deviation move of about $28.29 (15.0%) in WDAY by Oct 30, 2026, 32 days out.
Selling the $180 put (−0.34Δ) for $7.19 means assignment would leave a cost basis of $172.81, 8.4% below the $188.60 close.
At 0.30Δ on the Oct 30 expiry the put yields 3.99% on its strike and the call 2.83% on spot: puts pay 1.4× what calls do on WDAY this session.
Moving down to the $165 put (−0.15Δ) buys 8.0% more room below spot and keeps 36% of the 0.30Δ premium.
Open interest in the stored window totals 19,227 contracts; the largest single line is the $210 call expiring Dec 18 with 6,017 (31.3% of the window).
By options volume WDAY ranks #84 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 WDAY
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $180 | −0.34 | $7.19 Sep 28 | $719.00 | $18,000 | 3.99% | 45.6% | $172.81 | 23 | 2 |
| 0.20Δ | $165 | −0.15 | $2.61 Sep 28 | $261.00 | $16,500 | 1.58% | 18.0% | $162.39 | 25 | 40 |
Snapshot #278 · session 2026-09-28 · captured 22:50 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $155 | −0.18 | $5.90 Sep 28 | $590.00 | $15,500 | 3.81% | 17.2% | $149.10 | 83 | 3 |
Snapshot #278 · session 2026-09-28 · captured 22:50 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on WDAY
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $205 | 0.31 | $5.33 Sep 28 | $533.00 | 2.83% | 32.2% | 11.52% | 131.4% | 2 | 133 |
| 0.20Δ | $212.50 | 0.23 | $3.80 Sep 28 | $380.00 | 2.01% | 23.0% | 14.69% | 167.5% | 8 | 2 |
Snapshot #278 · session 2026-09-28 · captured 22:50 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $220 | 0.29 | $7.20 Sep 28 | $720.00 | 3.82% | 17.2% | 20.47% | 92.2% | 4,157 | 19 |
| 0.20Δ | $230 | 0.21 | $4.50 Sep 28 | $450.00 | 2.39% | 10.8% | 24.34% | 109.7% | 481 | 5 |
Snapshot #278 · session 2026-09-28 · captured 22:50 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
WDAY volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 50.7%session 2026-09-28
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 19,227 contractssession 2026-09-28
- Largest open-interest line
- $210 call · Dec 18 · 6,017
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #84 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 0.30Δ 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.