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IBM wheel strategy yields
Last price $252.51 · Expiry 2026-12-04 (32 DTE) · IV 38% · Next earnings 2027-01-27
Cash-secured put
25.9% annualized
- Strike
- $240.0
- Premium (mid)
- $5.45 (bid 4.65 / ask 6.25)
- Yield
- 2.27% (premium ÷ strike)
- Delta
- -0.31
- Option IV
- 39.3%
- Open interest
- 38
Covered call
18.9% annualized
- Strike
- $270.0
- Premium (mid)
- $4.18 (bid 3.7 / ask 4.65)
- Yield
- 1.66% (premium ÷ price)
- Delta
- 0.287
- Option IV
- 36.7%
- Open interest
- 23
Selling one IBM put requires ~$24,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.
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