XYZ wheel: cash-secured put & covered-call yields
Block, Inc. · Technology · $84.58 close on Nov 13, 2026
What the Nov 13, 2026 close says about XYZ
At 36.3% implied volatility, the options market is pricing a one-standard-deviation move of about $9.51 (11.2%) in XYZ by Dec 18, 2026, 35 days out.
Selling the $80 put (−0.30Δ) for $1.94 means assignment would leave a cost basis of $78.06, 7.7% below the $84.58 close.
The 63-day 0.30Δ put pays 1.5× the premium of the 35-day one for 1.8× the time — more premium per day on the 35-day contract ($0.055 vs $0.046).
At 0.30Δ on the Dec 18 expiry the put yields 2.43% on its strike and the call 2.14% on spot: puts pay 1.1× what calls do on XYZ this session.
Moving down to the $77.50 put (−0.23Δ) buys 3.0% more room below spot and keeps 70% of the 0.30Δ premium.
Open interest in the stored window totals 80,292 contracts; the largest single line is the $92.50 call expiring Jan 15 with 15,146 (18.9% of the window).
By options volume XYZ ranks #203 of 679 names in our universe.
Near-the-money options volume (1.0k) is 103% 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 XYZ
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $80 | −0.30 | $1.94 Nov 13 | $194.00 | $8,000 | 2.43% | 25.3% | $78.06 | 865 | 4 |
| 0.20Δ | $77.50 | −0.23 | $1.35 Nov 13 | $135.00 | $7,750 | 1.74% | 18.2% | $76.15 | 713 | 33 |
Snapshot #9844 · session 2026-11-13 · captured 22:30 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $80 | −0.33 | $2.90 Nov 13 | $290.00 | $8,000 | 3.62% | 21.0% | $77.10 | 2,762 | 9 |
| 0.20Δ | $72.50 | −0.15 | $1.21 Nov 13 | $121.00 | $7,250 | 1.67% | 9.7% | $71.29 | 1,946 | 1 |
Snapshot #9844 · session 2026-11-13 · captured 22:30 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 63
Covered calls on XYZ
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $90 | 0.31 | $1.81 Nov 13 | $181.00 | 2.14% | 22.3% | 8.55% | 89.1% | 3,106 | 640 |
| 0.20Δ | $92.50 | 0.22 | $1.18 Nov 13 | $118.00 | 1.40% | 14.5% | 10.76% | 112.2% | 1,004 | 25 |
Snapshot #9844 · session 2026-11-13 · captured 22:30 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $92.50 | 0.30 | $2.22 Nov 13 | $222.00 | 2.62% | 15.2% | 11.99% | 69.5% | 15,146 | 33 |
| 0.20Δ | $97.50 | 0.18 | $1.17 Nov 13 | $117.00 | 1.38% | 8.0% | 16.66% | 96.5% | 2,007 | 106 |
Snapshot #9844 · session 2026-11-13 · captured 22:30 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 63
XYZ volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 36.3%session 2026-11-13
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 80,292 contractssession 2026-11-13
- Largest open-interest line
- $92.50 call · Jan 15 · 15,146
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #203 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.