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PBR wheel strategy yields
Last price $21.16 · Expiry 2026-12-04 (32 DTE) · IV 46% · Next earnings 2026-11-10
⚠ Earnings are scheduled before this expiry — premiums include event risk.
Cash-secured put
31.4% annualized
- Strike
- $20.0
- Premium (mid)
- $0.55 (bid 0.46 / ask 0.64)
- Yield
- 2.75% (premium ÷ strike)
- Delta
- -0.316
- Option IV
- 46.4%
- Open interest
- 59
Covered call
21.6% annualized
- Strike
- $23.0
- Premium (mid)
- $0.40 (bid 0.3 / ask 0.5)
- Yield
- 1.89% (premium ÷ price)
- Delta
- 0.294
- Option IV
- 46.2%
- Open interest
- 34
Selling one PBR put requires ~$2,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.
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