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SNAP wheel strategy yields
Last price $5.45 · Expiry 2026-12-04 (32 DTE) · IV 87% · Next earnings 2026-11-04
⚠ Earnings are scheduled before this expiry — premiums include event risk.
Cash-secured put
73.0% annualized
- Strike
- $5.0
- Premium (mid)
- $0.32 (bid 0.28 / ask 0.35)
- Yield
- 6.4% (premium ÷ strike)
- Delta
- -0.318
- Option IV
- 82.8%
- Open interest
- 86
Covered call
50.2% annualized
- Strike
- $6.5
- Premium (mid)
- $0.24 (bid 0.22 / ask 0.27)
- Yield
- 4.4% (premium ÷ price)
- Delta
- 0.301
- Option IV
- 90.6%
- Open interest
- 119
Selling one SNAP put requires ~$500 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.
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