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MCD wheel strategy yields
Last price $265.64 · Expiry 2026-12-04 (32 DTE) · IV 27% · Next earnings 2026-11-04
⚠ Earnings are scheduled before this expiry — premiums include event risk.
Cash-secured put
17.2% annualized
- Strike
- $255.0
- Premium (mid)
- $3.85 (bid 3.5 / ask 4.2)
- Yield
- 1.51% (premium ÷ strike)
- Delta
- -0.294
- Option IV
- 27.6%
- Open interest
- 23
Covered call
17.7% annualized
- Strike
- $275.0
- Premium (mid)
- $4.12 (bid 3.65 / ask 4.6)
- Yield
- 1.55% (premium ÷ price)
- Delta
- 0.344
- Option IV
- 26.5%
- Open interest
- 39
Selling one MCD put requires ~$25,500 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.
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