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PM wheel strategy yields
Last price $208.29 · Expiry 2026-12-04 (32 DTE) · IV 29% · Next earnings n/a
Cash-secured put
17.6% annualized
- Strike
- $200.0
- Premium (mid)
- $3.08 (bid 2.45 / ask 3.7)
- Yield
- 1.54% (premium ÷ strike)
- Delta
- -0.305
- Option IV
- 29.4%
- Open interest
- 2
Covered call
13.6% annualized
- Strike
- $220.0
- Premium (mid)
- $2.48 (bid 1.95 / ask 3.0)
- Yield
- 1.19% (premium ÷ price)
- Delta
- 0.279
- Option IV
- 29.4%
- Open interest
- 8
Selling one PM put requires ~$20,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.
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