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META wheel strategy yields

Last price $606.73 · Expiry 2026-12-04 (32 DTE) · IV 41% · Next earnings 2027-01-27

Cash-secured put

30.4% annualized
Strike
$575.0
Premium (mid)
$15.35 (bid 15.1 / ask 15.6)
Yield
2.67% (premium ÷ strike)
Delta
-0.308
Option IV
41.2%
Open interest
234

Covered call

25.4% annualized
Strike
$650.0
Premium (mid)
$13.50 (bid 13.1 / ask 13.9)
Yield
2.23% (premium ÷ price)
Delta
0.309
Option IV
41.6%
Open interest
242

Selling one META put requires ~$57,500 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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