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DIA wheel strategy yields

Last price $519.34 · Expiry 2026-12-04 (32 DTE) · IV 16% · Next earnings n/a

Cash-secured put

11.2% annualized
Strike
$507.0
Premium (mid)
$5.00 (bid 4.85 / ask 5.15)
Yield
0.99% (premium ÷ strike)
Delta
-0.305
Option IV
16.8%
Open interest
3

Covered call

9.2% annualized
Strike
$532.0
Premium (mid)
$4.20 (bid 4.05 / ask 4.35)
Yield
0.81% (premium ÷ price)
Delta
0.302
Option IV
15.0%
Open interest
9

Selling one DIA put requires ~$50,700 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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