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SLV wheel strategy yields

Last price $45.57 · Expiry 2026-12-04 (32 DTE) · IV 42% · Next earnings n/a

Cash-secured put

37.6% annualized
Strike
$44.0
Premium (mid)
$1.45 (bid 1.42 / ask 1.48)
Yield
3.3% (premium ÷ strike)
Delta
-0.364
Option IV
41.2%
Open interest
395

Covered call

25.0% annualized
Strike
$49.0
Premium (mid)
$1.00 (bid 0.98 / ask 1.02)
Yield
2.19% (premium ÷ price)
Delta
0.301
Option IV
42.1%
Open interest
412

Selling one SLV put requires ~$4,400 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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