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LLY wheel strategy yields

Last price $1410.99 · Expiry 2026-12-04 (32 DTE) · IV 37% · Next earnings n/a

Cash-secured put

22.6% annualized
Strike
$1340.0
Premium (mid)
$26.50 (bid 22.75 / ask 30.25)
Yield
1.98% (premium ÷ strike)
Delta
-0.297
Option IV
36.4%
Open interest
9

Covered call

20.3% annualized
Strike
$1500.0
Premium (mid)
$25.05 (bid 20.35 / ask 29.75)
Yield
1.78% (premium ÷ price)
Delta
0.311
Option IV
37.7%
Open interest
10

Selling one LLY put requires ~$134,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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