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XLF wheel strategy yields

Last price $57.56 · Expiry 2026-12-04 (32 DTE) · IV 27% · Next earnings n/a

Cash-secured put

10.1% annualized
Strike
$55.5
Premium (mid)
$0.49 (bid 0.09 / ask 0.9)
Yield
0.88% (premium ÷ strike)
Delta
-0.305
Option IV
26.1%
Open interest
31

Covered call

10.3% annualized
Strike
$60.0
Premium (mid)
$0.52 (bid 0.1 / ask 0.94)
Yield
0.9% (premium ÷ price)
Delta
0.32
Option IV
27.6%
Open interest
144

Selling one XLF put requires ~$5,550 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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