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ARM wheel strategy yields
Last price $196.79 · Expiry 2026-12-04 (32 DTE) · IV 80% · Next earnings 2026-11-04
⚠ Earnings are scheduled before this expiry — premiums include event risk.
Cash-secured put
65.3% annualized
- Strike
- $180.0
- Premium (mid)
- $10.30 (bid 9.25 / ask 11.35)
- Yield
- 5.72% (premium ÷ strike)
- Delta
- -0.309
- Option IV
- 78.5%
- Open interest
- 359
Covered call
46.4% annualized
- Strike
- $230.0
- Premium (mid)
- $8.00 (bid 7.0 / ask 9.0)
- Yield
- 4.07% (premium ÷ price)
- Delta
- 0.3
- Option IV
- 81.5%
- Open interest
- 13
Selling one ARM put requires ~$18,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.
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