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GDX wheel strategy yields

Last price $79.15 · Expiry 2026-12-04 (32 DTE) · IV 44% · Next earnings n/a

Cash-secured put

29.8% annualized
Strike
$75.0
Premium (mid)
$1.96 (bid 1.78 / ask 2.13)
Yield
2.61% (premium ÷ strike)
Delta
-0.311
Option IV
42.4%
Open interest
112

Covered call

24.6% annualized
Strike
$85.5
Premium (mid)
$1.71 (bid 1.54 / ask 1.88)
Yield
2.16% (premium ÷ price)
Delta
0.302
Option IV
44.6%
Open interest
32

Selling one GDX put requires ~$7,500 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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