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PFE wheel strategy yields

Last price $30.67 · Expiry 2026-12-04 (32 DTE) · IV 30% · Next earnings 2026-11-03

⚠ Earnings are scheduled before this expiry — premiums include event risk.

Cash-secured put

17.3% annualized
Strike
$29.0
Premium (mid)
$0.44 (bid 0.41 / ask 0.48)
Yield
1.52% (premium ÷ strike)
Delta
-0.261
Option IV
31.9%
Open interest
42

Covered call

17.1% annualized
Strike
$32.0
Premium (mid)
$0.46 (bid 0.4 / ask 0.51)
Yield
1.5% (premium ÷ price)
Delta
0.32
Option IV
28.2%
Open interest
141

Selling one PFE put requires ~$2,900 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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