{"slug":"why-would-anyone-sell-a-put-option","qid":"put_ladder","label":"put_ladder","post_title":"why-would-anyone-sell-a-put-option","post_url":"/blog/why-would-anyone-sell-a-put-option#q-put_ladder","columns":["strike","put_premium","abs_delta","iv_pct","premium_pct_of_spot","premium_per_contract","commitment_label","spot_label","session_label"],"rows":[{"strike":"$255","put_premium":0.54,"abs_delta":0.05,"iv_pct":33,"premium_pct_of_spot":0.18,"premium_per_contract":"$54","commitment_label":"$25.5k","spot_label":"$297.1","session_label":"Jun 17, 2026"},{"strike":"$260","put_premium":0.67,"abs_delta":0.06,"iv_pct":31.1,"premium_pct_of_spot":0.23,"premium_per_contract":"$67","commitment_label":"$26k","spot_label":"$297.1","session_label":"Jun 17, 2026"},{"strike":"$265","put_premium":0.93,"abs_delta":0.08,"iv_pct":29.8,"premium_pct_of_spot":0.31,"premium_per_contract":"$93","commitment_label":"$26.5k","spot_label":"$297.1","session_label":"Jun 17, 2026"},{"strike":"$270","put_premium":1.2,"abs_delta":0.1,"iv_pct":28,"premium_pct_of_spot":0.4,"premium_per_contract":"$120","commitment_label":"$27k","spot_label":"$297.1","session_label":"Jun 17, 2026"},{"strike":"$275","put_premium":1.7,"abs_delta":0.14,"iv_pct":27,"premium_pct_of_spot":0.57,"premium_per_contract":"$170","commitment_label":"$27.5k","spot_label":"$297.1","session_label":"Jun 17, 2026"},{"strike":"$280","put_premium":2.31,"abs_delta":0.19,"iv_pct":25.6,"premium_pct_of_spot":0.78,"premium_per_contract":"$231","commitment_label":"$28k","spot_label":"$297.1","session_label":"Jun 17, 2026"},{"strike":"$285","put_premium":3.3,"abs_delta":0.25,"iv_pct":24.7,"premium_pct_of_spot":1.11,"premium_per_contract":"$330","commitment_label":"$28.5k","spot_label":"$297.1","session_label":"Jun 17, 2026"},{"strike":"$290","put_premium":4.85,"abs_delta":0.34,"iv_pct":24.6,"premium_pct_of_spot":1.63,"premium_per_contract":"$485","commitment_label":"$29k","spot_label":"$297.1","session_label":"Jun 17, 2026"},{"strike":"$295","put_premium":6.7,"abs_delta":0.43,"iv_pct":24,"premium_pct_of_spot":2.26,"premium_per_contract":"$670","commitment_label":"$29.5k","spot_label":"$297.1","session_label":"Jun 17, 2026"}],"shape":"table","sql":"SELECT\n    concat('$', toString(toUInt32(round(toFloat64(strike_price)))))                   AS strike,\n    round(avg(toFloat64(option_close)), 2)                                            AS put_premium,\n    round(avg(abs(delta)), 2)                                                         AS abs_delta,\n    round(avg(implied_volatility) * 100, 1)                                           AS iv_pct,\n    round(100 * avg(toFloat64(option_close)) / avg(toFloat64(underlying_close)), 2)    AS premium_pct_of_spot,\n    concat('$', toString(toUInt32(round(avg(toFloat64(option_close)) * 100))))         AS premium_per_contract,\n    concat('$', toString(round(toFloat64(strike_price) / 10, 1)), 'k')                 AS commitment_label,\n    concat('$', toString(round(avg(toFloat64(underlying_close)), 2)))                  AS spot_label,\n    formatDateTime(toDate('2026-06-17'), '%b %e, %Y')                                  AS session_label\nFROM global_markets.options_greeks\nWHERE underlying_symbol = 'AAPL'\n  AND delta < 0\n  AND date = '2026-06-17'\n  AND iv_converged = 1\n  AND volume > 0\n  AND days_to_expiry BETWEEN 28 AND 35\n  AND modulo(toFloat64(strike_price), 5) = 0\n  AND toFloat64(strike_price) BETWEEN toFloat64(underlying_close) * 0.85\n                                  AND toFloat64(underlying_close) * 1.005\nGROUP BY strike_price\nORDER BY strike_price","computed_at":"2026-10-02T15:32:52.897385+00:00","elapsed":0.004368075}