WDC wheel: cash-secured put & covered-call yields
Western Digital Corp. · Technology · $453.23 close on Sep 28, 2026
What the Sep 28, 2026 close says about WDC
At 71.2% implied volatility, the options market is pricing a one-standard-deviation move of about $95.51 (21.1%) in WDC by Oct 30, 2026, 32 days out.
Selling the $410 put (−0.28Δ) for $17.66 means assignment would leave a cost basis of $392.34, 13.4% below the $453.23 close.
The 81-day 0.30Δ put pays 2.2× the premium of the 32-day one for 2.5× the time — more premium per day on the 32-day contract ($0.552 vs $0.475).
At 0.30Δ on the Oct 30 expiry the put yields 4.31% on its strike and the call 3.64% on spot: puts pay 1.2× what calls do on WDC this session.
Moving down to the $390 put (−0.20Δ) buys 4.4% more room below spot and keeps 69% of the 0.30Δ premium.
Open interest in the stored window totals 17,920 contracts; the largest single line is the $300 put expiring Dec 18 with 1,101 (6.1% of the window).
By options volume WDC ranks #188 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 WDC
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $410 | −0.28 | $17.66 Sep 28 | $1,766.00 | $41,000 | 4.31% | 49.1% | $392.34 | 156 | 10 |
| 0.20Δ | $390 | −0.20 | $12.20 Sep 28 | $1,220.00 | $39,000 | 3.13% | 35.7% | $377.80 | 165 | 75 |
Snapshot #279 · 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 | $410 | −0.31 | $38.50 Sep 28 | $3,850.00 | $41,000 | 9.39% | 42.3% | $371.50 | 209 | 9 |
| 0.20Δ | $370 | −0.21 | $19.73 Sep 28 | $1,973.00 | $37,000 | 5.33% | 24.0% | $350.27 | 409 | 2 |
Snapshot #279 · session 2026-09-28 · captured 22:50 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on WDC
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $530 | 0.28 | $16.50 Sep 28 | $1,650.00 | 3.64% | 41.5% | 20.58% | 234.7% | 11 | 1 |
| 0.20Δ | $560 | 0.20 | $7.30 Sep 28 | $730.00 | 1.61% | 18.4% | 25.17% | 287.1% | 28 | 4 |
Snapshot #279 · 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 | $560 | 0.33 | $29.00 Sep 28 | $2,900.00 | 6.40% | 28.8% | 29.96% | 135.0% | 299 | 9 |
| 0.20Δ | $650 | 0.20 | $12.34 Sep 28 | $1,234.00 | 2.72% | 12.3% | 46.14% | 207.9% | 122 | 6 |
Snapshot #279 · session 2026-09-28 · captured 22:50 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
WDC volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 71.2%session 2026-09-28
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 17,920 contractssession 2026-09-28
- Largest open-interest line
- $300 put · Dec 18 · 1,101
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #188 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.
- 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.