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APA wheel strategy yields
Last price $48.82 · Expiry 2026-12-04 (32 DTE) · IV 53% · Next earnings 2026-11-04
⚠ Earnings are scheduled before this expiry — premiums include event risk.
Cash-secured put
39.7% annualized
- Strike
- $46.0
- Premium (mid)
- $1.60 (bid 1.42 / ask 1.79)
- Yield
- 3.48% (premium ÷ strike)
- Delta
- -0.325
- Option IV
- 53.5%
- Open interest
- 1
Covered call
28.3% annualized
- Strike
- $54.0
- Premium (mid)
- $1.21 (bid 1.05 / ask 1.38)
- Yield
- 2.48% (premium ÷ price)
- Delta
- 0.281
- Option IV
- 51.9%
- Open interest
- 1
Selling one APA put requires ~$4,600 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.
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