XLY wheel: cash-secured put & covered-call yields
State Street Consumer Discretionary Select Sector SPDR ETF · ETFs · $114.46 close on Oct 19, 2026
What the Oct 19, 2026 close says about XLY
At 21.9% implied volatility, the options market is pricing a one-standard-deviation move of about $7.43 (6.5%) in XLY by Nov 20, 2026, 32 days out.
Selling the $110 put (−0.27Δ) for $1.26 means assignment would leave a cost basis of $108.74, 5.0% below the $114.46 close.
The 60-day 0.30Δ put pays 1.4× the premium of the 32-day one for 1.9× the time — more premium per day on the 32-day contract ($0.039 vs $0.029).
At 0.30Δ on the Nov 20 expiry the put yields 1.15% on its strike and the call 1.01% on spot: puts pay 1.1× what calls do on XLY this session.
Moving down to the $103 put (−0.22Δ) buys 6.1% more room below spot and keeps 37% of the 0.30Δ premium.
Open interest in the stored window totals 129,221 contracts; the largest single line is the $107.50 put expiring Dec 18 with 44,833 (34.7% of the window).
By options volume XLY ranks #226 of 608 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 XLY
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $110 | −0.27 | $1.26 Oct 19 | $126.00 | $11,000 | 1.15% | 13.1% | $108.74 | 737 | 30 |
| 0.20Δ | $103 | −0.22 | $0.47 Oct 19 | $47.00 | $10,300 | 0.46% | 5.2% | $102.53 | 42 | 2 |
Snapshot #4437 · session 2026-10-19 · captured 22:41 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 | $109 | −0.29 | $1.75 Oct 19 | $175.00 | $10,900 | 1.61% | 9.8% | $107.25 | 964 | 137 |
| 0.20Δ | $104 | −0.18 | $0.96 Oct 19 | $96.00 | $10,400 | 0.92% | 5.6% | $103.04 | 457 | 1 |
Snapshot #4437 · session 2026-10-19 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 60
Covered calls on XLY
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $119 | 0.33 | $1.16 Oct 19 | $116.00 | 1.01% | 11.6% | 4.98% | 56.8% | 296 | 6 |
| 0.20Δ | $120 | 0.19 | $1.05 Oct 19 | $105.00 | 0.92% | 10.5% | 5.76% | 65.7% | 1,144 | 82 |
Snapshot #4437 · session 2026-10-19 · captured 22:41 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 | Unavailable1 | |||||||||
| 0.20Δ | $124 | 0.20 | $0.90 Oct 19 | $90.00 | 0.79% | 4.8% | 9.12% | 55.5% | 562 | 2 |
Snapshot #4437 · session 2026-10-19 · captured 22:41 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 60
XLY volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 21.9%session 2026-10-19
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Oct 19, 2026
- Open interest, stored window
- 129,221 contractssession 2026-10-19
- Largest open-interest line
- $107.50 put · Dec 18 · 44,833
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #226 of 608 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.