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BABA wheel strategy yields

Last price $101.50 · Expiry 2026-12-04 (32 DTE) · IV 48% · Next earnings 2026-11-24

⚠ Earnings are scheduled before this expiry — premiums include event risk.

Cash-secured put

30.5% annualized
Strike
$95.0
Premium (mid)
$2.54 (bid 2.41 / ask 2.68)
Yield
2.67% (premium ÷ strike)
Delta
-0.289
Option IV
45.8%
Open interest
74

Covered call

27.9% annualized
Strike
$111.0
Premium (mid)
$2.48 (bid 2.3 / ask 2.67)
Yield
2.44% (premium ÷ price)
Delta
0.3
Option IV
50.4%
Open interest
5

Selling one BABA put requires ~$9,500 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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