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XLU wheel strategy yields

Last price $43.67 · Expiry 2026-12-04 (32 DTE) · IV 20% · Next earnings n/a

Cash-secured put

12.3% annualized
Strike
$42.5
Premium (mid)
$0.46 (bid 0.37 / ask 0.54)
Yield
1.08% (premium ÷ strike)
Delta
-0.313
Option IV
20.1%
Open interest
61

Covered call

7.6% annualized
Strike
$45.5
Premium (mid)
$0.29 (bid 0.18 / ask 0.4)
Yield
0.66% (premium ÷ price)
Delta
0.259
Option IV
20.5%
Open interest
1

Selling one XLU put requires ~$4,250 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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