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ORCL wheel strategy yields

Last price $119.22 · Expiry 2026-12-04 (32 DTE) · IV 59% · Next earnings 2026-12-14

Cash-secured put

45.4% annualized
Strike
$110.0
Premium (mid)
$4.38 (bid 4.3 / ask 4.45)
Yield
3.98% (premium ÷ strike)
Delta
-0.295
Option IV
60.5%
Open interest
320

Covered call

33.3% annualized
Strike
$133.0
Premium (mid)
$3.48 (bid 3.35 / ask 3.6)
Yield
2.92% (premium ÷ price)
Delta
0.292
Option IV
58.4%
Open interest
64

Selling one ORCL put requires ~$11,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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