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VALE wheel strategy yields

Last price $11.34 · Expiry 2026-12-04 (32 DTE) · IV 77% · Next earnings n/a

Cash-secured put

17.4% annualized
Strike
$10.5
Premium (mid)
$0.16 (bid 0.12 / ask 0.21)
Yield
1.52% (premium ÷ strike)
Delta
-0.243
Option IV
40.8%
Open interest
688

Covered call

3.0% annualized
Strike
$14.5
Premium (mid)
$0.03 (bid 0 / ask 1.15)
Yield
0.26% (premium ÷ price)
Delta
0.285
Option IV
113.1%
Open interest
38

Selling one VALE put requires ~$1,050 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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