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NEM wheel strategy yields

Last price $109.09 · Expiry 2026-12-04 (32 DTE) · IV 41% · Next earnings n/a

Cash-secured put

25.4% annualized
Strike
$103.0
Premium (mid)
$2.29 (bid 2.09 / ask 2.5)
Yield
2.22% (premium ÷ strike)
Delta
-0.292
Option IV
39.6%
Open interest
78

Covered call

20.8% annualized
Strike
$118.0
Premium (mid)
$1.99 (bid 1.6 / ask 2.38)
Yield
1.82% (premium ÷ price)
Delta
0.291
Option IV
43.1%
Open interest
1

Selling one NEM put requires ~$10,300 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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