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C wheel strategy yields

Last price $123.10 · Expiry 2026-12-04 (32 DTE) · IV 33% · Next earnings 2027-01-14

Cash-secured put

18.6% annualized
Strike
$117.0
Premium (mid)
$1.91 (bid 1.54 / ask 2.28)
Yield
1.63% (premium ÷ strike)
Delta
-0.286
Option IV
33.3%
Open interest
11

Covered call

17.3% annualized
Strike
$130.0
Premium (mid)
$1.87 (bid 1.67 / ask 2.07)
Yield
1.52% (premium ÷ price)
Delta
0.297
Option IV
31.7%
Open interest
103

Selling one C put requires ~$11,700 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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