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RCL wheel strategy yields

Last price $321.07 · Expiry 2026-12-04 (32 DTE) · IV 46% · Next earnings 2027-01-26

Cash-secured put

28.1% annualized
Strike
$300.0
Premium (mid)
$7.40 (bid 6.4 / ask 8.4)
Yield
2.47% (premium ÷ strike)
Delta
-0.286
Option IV
46.1%
Open interest
18

Covered call

17.4% annualized
Strike
$355.0
Premium (mid)
$4.90 (bid 3.8 / ask 6.0)
Yield
1.53% (premium ÷ price)
Delta
0.249
Option IV
45.5%
Open interest
12

Selling one RCL put requires ~$30,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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