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PANW wheel strategy yields
Last price $351.72 · Expiry 2026-12-04 (32 DTE) · IV 70% · Next earnings 2026-11-19
⚠ Earnings are scheduled before this expiry — premiums include event risk.
Cash-secured put
52.6% annualized
- Strike
- $320.0
- Premium (mid)
- $14.75 (bid 11.8 / ask 17.7)
- Yield
- 4.61% (premium ÷ strike)
- Delta
- -0.288
- Option IV
- 70.2%
- Open interest
- 11
Covered call
40.6% annualized
- Strike
- $400.0
- Premium (mid)
- $12.53 (bid 9.8 / ask 15.25)
- Yield
- 3.56% (premium ÷ price)
- Delta
- 0.301
- Option IV
- 69.7%
- Open interest
- 48
Selling one PANW put requires ~$32,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.
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