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TSLA wheel strategy yields

Last price $403.82 · Expiry 2026-12-04 (32 DTE) · IV 45% · Next earnings 2027-01-27

Cash-secured put

33.9% annualized
Strike
$380.0
Premium (mid)
$11.28 (bid 11.15 / ask 11.4)
Yield
2.97% (premium ÷ strike)
Delta
-0.303
Option IV
45.9%
Open interest
248

Covered call

27.7% annualized
Strike
$435.0
Premium (mid)
$9.82 (bid 9.7 / ask 9.95)
Yield
2.43% (premium ÷ price)
Delta
0.31
Option IV
44.7%
Open interest
675

Selling one TSLA put requires ~$38,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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