WDC wheel: cash-secured put & covered-call yields
Western Digital Corp. · Technology · $311.21 close on Nov 12, 2026
What the Nov 12, 2026 close says about WDC
At 70.7% implied volatility, the options market is pricing a one-standard-deviation move of about $69.05 (22.2%) in WDC by Dec 18, 2026, 36 days out.
Selling the $280 put (−0.28Δ) for $14.03 means assignment would leave a cost basis of $265.97, 14.5% below the $311.21 close.
The 64-day 0.30Δ put pays 1.5× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.390 vs $0.324).
At 0.30Δ on the Dec 18 expiry the put yields 5.01% on its strike and the call 3.45% on spot: puts pay 1.5× what calls do on WDC this session.
Moving down to the $260 put (−0.18Δ) buys 6.4% more room below spot and keeps 62% of the 0.30Δ premium.
Open interest in the stored window totals 54,358 contracts; the largest single line is the $300 put expiring Jan 15 with 4,598 (8.5% of the window).
WDC goes ex-dividend on Dec 4, 2026 ($0.18 declared), inside the Dec 18 covered-call window. A short call that is in the money before an ex-date can be assigned early.
By options volume WDC ranks #232 of 679 names in our universe.
Near-the-money options volume (355) is 158% 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 WDC
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $280 | −0.28 | $14.03 Nov 12 | $1,403.00 | $28,000 | 5.01% | 50.8% | $265.97 | 625 | 48 |
| 0.20Δ | $260 | −0.18 | $8.68 Nov 12 | $868.00 | $26,000 | 3.34% | 33.8% | $251.32 | 639 | 46 |
Snapshot #9550 · 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 | $280 | −0.30 | $20.75 Nov 12 | $2,075.00 | $28,000 | 7.41% | 42.3% | $259.25 | 1,518 | 53 |
| 0.20Δ | $250 | −0.18 | $11.10 Nov 12 | $1,110.00 | $25,000 | 4.44% | 25.3% | $238.90 | 593 | 33 |
Snapshot #9550 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on WDC
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $360 | 0.29 | $10.74 Nov 12 | $1,074.00 | 3.45% | 35.0% | 19.13% | 193.9% | 977 | 27 |
| 0.20Δ | $380 | 0.21 | $6.79 Nov 12 | $679.00 | 2.18% | 22.1% | 24.29% | 246.2% | 696 | 17 |
Snapshot #9550 · 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 | $380 | 0.29 | $13.00 Nov 12 | $1,300.00 | 4.18% | 23.8% | 26.28% | 149.9% | 743 | 9 |
| 0.20Δ | $410 | 0.21 | $8.21 Nov 12 | $821.00 | 2.64% | 15.0% | 34.38% | 196.1% | 1,190 | 11 |
Snapshot #9550 · session 2026-11-12 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
WDC volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 70.7%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- Ex-div Dec 4, 2026 · $0.18 declaredchecked Nov 9, 2026
- Open interest, stored window
- 54,358 contractssession 2026-11-12
- Largest open-interest line
- $300 put · Jan 15 · 4,598
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #232 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.