Wheel strategy · $CRDO
Wheeling $CRDO covered calls & cash-secured puts
Credo Technology Group Holding Ltd last traded at $131.51 (Nov 13, 2026). The featured monthly expiry is Dec 18, 2026, 34 days out.
Price
$131.51
52-week $86.49 – $308.67
Volatility
107%
Implied, at the money
Expected move
±$43.06
±32.7% to Dec 18, 2026
Dividend yield
None
Trailing 12 months
Next earnings
Dec 1, 2026
01
The numbers that matter
What a wheel seller checks before opening a trade.
Volatility & expected move
Implied volatility of 107% implies a one-standard-deviation move of about ±$43.06 (32.7%) by Dec 18, 2026 — a range of roughly $88.45 to $174.57.
3-month historical volatility: 108%.
Dividends
$CRDO paid no dividend in the last 12 months.
Earnings
Next report: Dec 1, 2026 · after the close
Earnings land before the Dec 18, 2026 expiry. A short put or call held through the report carries gap risk: the stock can jump past your strike overnight. Many wheel sellers pick an expiry before the report or size down.
02
Sample trades at ~30 days
One contract at the listed strike closest to 30 delta (its actual delta is shown), computed with the YieldCove calculator’s maths.
Cash-secured put
- Strike
- $115.00
- Delta (this strike)
- 0.28
- Premium
- $9.35
- Cash secured
- $11,500.00
- Credit collected
- $935.00
- Return on capital
- 8.13% · 87.3% annualised
- Breakeven
- $105.65
- Cushion to breakeven
- 19.7%
- Chance of assignment
- 41%
Premium = last trade on Nov 13, 2026 (delayed; the live bid/ask can differ).
Open in the calculatorCovered call
- Strike
- $165.00
- Delta (this strike)
- 0.30
- Premium
- $6.70
- Share cost
- $13,151.00
- Credit collected
- $670.00
- Return on capital
- 5.09% · 54.7% annualised
- If called away (this cycle)
- 30.56%
- Breakeven
- $124.81
- Chance of being called
- 19%
Assumes 100 shares bought at today’s price. Premium = last trade on Nov 13, 2026 (delayed; the live bid/ask can differ).
Open in the calculator03
How the wheel works on $CRDO
Sell a cash-secured put. At a $115.00 strike you would collect about $9.35 per share and need $11,500.00 set aside. If $CRDO stays above $115.00 until Dec 18, 2026, you keep the premium and can sell another put.
If assigned, you own 100 shares. Your effective cost is the strike minus the premium — $105.65 in the example above — not the strike itself.
Sell covered calls above your cost. A $165.00 call would pay about $6.70 per share; if $CRDO finishes above $165.00, the shares are called away and the cycle starts again.
$CRDO is volatile: the premium looks generous because the stock can move a long way. Size the position so an assignment after a large drop is still a position you can hold.
04
YieldCove research on $CRDO
Credo: Fast interconnect growth meets a full valuation
An evidence-led review of Credo’s AI-connectivity growth, customer concentration, acquisition strategy, valuation sensitivity and wheel suitability.
Read the research05
Common questions
What the numbers mean — and what they leave out.
- What strike should I use to wheel $CRDO?
- Many wheel sellers start near 30 delta, about 30 days out. With $CRDO at $131.51, that was roughly a $115.00 put and a $165.00 covered call for the Dec 18, 2026 expiry at the last refresh. Pick a put strike you would genuinely be happy to own the stock at.
- How much money do I need to wheel $CRDO?
- One cash-secured put reserves 100 × the strike: about $11,500.00 at a $115.00 strike. That cash stays locked until the put expires, is closed, or you are assigned.
- Does $CRDO report earnings before the next monthly expiry?
- Yes — the next report (Dec 1, 2026) lands before the Dec 18, 2026 expiry, so a ~30-day trade would be open through it.
- Does $CRDO pay a dividend, and why does it matter for the wheel?
- It paid no dividend in the last 12 months, so the income comes from option premium alone — and there is no ex-dividend early-assignment risk on covered calls.
- Is wheeling $CRDO safe?
- No options strategy is risk-free. The wheel’s main risk is owning 100 shares after a large drop: premium cushions a fall, it does not prevent one. This page is educational and not a recommendation to trade $CRDO.
06
Keep exploring
Track this wheel free
Log the put, the assignment and the calls in one place: YieldCove tracks premium, cost basis and annualised return across the whole cycle — free.
Data: delayed Yahoo Finance prices and option trades, Nasdaq/FMP earnings calendars and the YieldCove catalyst roadmap; refreshed every few hours. As of Nov 13, 2026.
Educational content only — not financial advice or a recommendation to buy or sell $CRDO or any option. Options involve risk and are not suitable for every investor. Market data is delayed and may be incomplete. Full disclaimer
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