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TXN wheel strategy yields

Last price $302.02 · Expiry 2026-12-04 (32 DTE) · IV 46% · Next earnings 2027-01-26

Cash-secured put

26.8% annualized
Strike
$280.0
Premium (mid)
$6.57 (bid 5.8 / ask 7.35)
Yield
2.35% (premium ÷ strike)
Delta
-0.269
Option IV
46.6%
Open interest
127

Covered call

22.8% annualized
Strike
$330.0
Premium (mid)
$6.03 (bid 5.35 / ask 6.7)
Yield
2.0% (premium ÷ price)
Delta
0.281
Option IV
46.1%
Open interest
5

Selling one TXN put requires ~$28,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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