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SLB wheel strategy yields

Last price $52.31 · Expiry 2026-12-04 (32 DTE) · IV 41% · Next earnings 2027-01-22

Cash-secured put

24.4% annualized
Strike
$49.0
Premium (mid)
$1.05 (bid 0.91 / ask 1.2)
Yield
2.14% (premium ÷ strike)
Delta
-0.279
Option IV
42.1%
Open interest
46

Covered call

20.7% annualized
Strike
$56.0
Premium (mid)
$0.95 (bid 0.76 / ask 1.15)
Yield
1.82% (premium ÷ price)
Delta
0.305
Option IV
40.5%
Open interest
7

Selling one SLB put requires ~$4,900 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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