XOM wheel: cash-secured put & covered-call yields
ExxonMobil Holdings Corporation · Energy · $166.71 close on Nov 11, 2026
What the Nov 11, 2026 close says about XOM
At 30.9% implied volatility, the options market is pricing a one-standard-deviation move of about $14.76 (8.9%) in XOM by Dec 11, 2026, 30 days out.
Selling the $160 put (−0.29Δ) for $2.94 means assignment would leave a cost basis of $157.06, 5.8% below the $166.71 close.
The 65-day 0.30Δ put pays 1.7× the premium of the 30-day one for 2.2× the time — more premium per day on the 30-day contract ($0.098 vs $0.075).
At 0.30Δ on the Dec 11 expiry the put yields 1.84% on its strike and the call 1.09% on spot: puts pay 1.7× what calls do on XOM this session.
Moving down to the $155 put (−0.18Δ) buys 3.0% more room below spot and keeps 56% of the 0.30Δ premium.
Open interest in the stored window totals 101,422 contracts; the largest single line is the $180 call expiring Jan 15 with 37,423 (36.9% of the window).
XOM goes ex-dividend on Nov 16, 2026 ($1.07 declared), inside the Dec 11 covered-call window. A short call that is in the money before an ex-date can be assigned early.
By options volume XOM ranks #104 of 679 names in our universe.
Near-the-money options volume (138) is 70% below 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 XOM
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $160 | −0.29 | $2.94 Nov 11 | $294.00 | $16,000 | 1.84% | 22.4% | $157.06 | 60 | 14 |
| 0.20Δ | $155 | −0.18 | $1.64 Nov 11 | $164.00 | $15,500 | 1.06% | 12.9% | $153.36 | 38 | 12 |
Snapshot #9280 · session 2026-11-11 · captured 22:22 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $160 | −0.33 | $4.86 Nov 11 | $486.00 | $16,000 | 3.04% | 17.1% | $155.14 | 5,395 | 67 |
| 0.20Δ | $150 | −0.17 | $2.08 Nov 11 | $208.00 | $15,000 | 1.39% | 7.8% | $147.92 | 9,405 | 52 |
Snapshot #9280 · session 2026-11-11 · captured 22:22 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 65
Covered calls on XOM
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $175 | 0.27 | $1.81 Nov 11 | $181.00 | 1.09% | 13.2% | 6.06% | 73.7% | 131 | 45 |
| 0.20Δ | $180 | 0.16 | $1.01 Nov 11 | $101.00 | 0.61% | 7.4% | 8.58% | 104.4% | 395 | 20 |
Snapshot #9280 · session 2026-11-11 · captured 22:22 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $180 | 0.27 | $2.77 Nov 11 | $277.00 | 1.66% | 9.3% | 9.63% | 54.1% | 37,423 | 216 |
| 0.20Δ | $185 | 0.19 | $1.82 Nov 11 | $182.00 | 1.09% | 6.1% | 12.06% | 67.7% | 8,033 | 285 |
Snapshot #9280 · session 2026-11-11 · captured 22:22 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 65
XOM volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 30.9%session 2026-11-11
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- Ex-div Nov 16, 2026 · $1.07 declaredchecked Nov 9, 2026
- Open interest, stored window
- 101,422 contractssession 2026-11-11
- Largest open-interest line
- $180 call · Jan 15 · 37,423
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #104 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 (33 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.