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GLD wheel strategy yields

Last price $361.65 · Expiry 2026-12-04 (32 DTE) · IV 23% · Next earnings n/a

Cash-secured put

15.5% annualized
Strike
$350.0
Premium (mid)
$4.75 (bid 4.65 / ask 4.85)
Yield
1.36% (premium ÷ strike)
Delta
-0.302
Option IV
22.8%
Open interest
209

Covered call

14.0% annualized
Strike
$376.0
Premium (mid)
$4.45 (bid 4.35 / ask 4.55)
Yield
1.23% (premium ÷ price)
Delta
0.298
Option IV
23.3%
Open interest
24

Selling one GLD put requires ~$35,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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