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TGT wheel strategy yields

Last price $158.38 · Expiry 2026-12-04 (32 DTE) · IV 47% · Next earnings 2026-11-18

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

Cash-secured put

37.3% annualized
Strike
$150.0
Premium (mid)
$4.90 (bid 4.65 / ask 5.15)
Yield
3.27% (premium ÷ strike)
Delta
-0.325
Option IV
47.9%
Open interest
3

Covered call

26.3% annualized
Strike
$170.0
Premium (mid)
$3.65 (bid 3.05 / ask 4.25)
Yield
2.3% (premium ÷ price)
Delta
0.325
Option IV
45.8%
Open interest
149

Selling one TGT put requires ~$15,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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