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XLE wheel strategy yields

Last price $67.25 · Expiry 2026-12-04 (32 DTE) · IV 42% · Next earnings n/a

Cash-secured put

21.7% annualized
Strike
$64.0
Premium (mid)
$1.22 (bid 0.32 / ask 2.13)
Yield
1.91% (premium ÷ strike)
Delta
-0.332
Option IV
45.4%
Open interest
69

Covered call

16.5% annualized
Strike
$71.5
Premium (mid)
$0.97 (bid 0.53 / ask 1.41)
Yield
1.44% (premium ÷ price)
Delta
0.31
Option IV
37.6%
Open interest
166

Selling one XLE put requires ~$6,400 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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