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WFC wheel strategy yields

Last price $85.89 · Expiry 2026-12-04 (32 DTE) · IV 30% · Next earnings 2027-01-14

Cash-secured put

19.5% annualized
Strike
$82.0
Premium (mid)
$1.40 (bid 1.14 / ask 1.67)
Yield
1.71% (premium ÷ strike)
Delta
-0.3
Option IV
32.8%
Open interest
158

Covered call

12.4% annualized
Strike
$90.0
Premium (mid)
$0.93 (bid 0.71 / ask 1.15)
Yield
1.08% (premium ÷ price)
Delta
0.287
Option IV
26.2%
Open interest
79

Selling one WFC put requires ~$8,200 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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