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VZ wheel strategy yields

Last price $45.05 · Expiry 2026-12-04 (32 DTE) · IV 27% · Next earnings 2027-01-28

Cash-secured put

13.8% annualized
Strike
$43.0
Premium (mid)
$0.52 (bid 0.45 / ask 0.59)
Yield
1.21% (premium ÷ strike)
Delta
-0.264
Option IV
26.5%
Open interest
451

Covered call

16.2% annualized
Strike
$47.0
Premium (mid)
$0.64 (bid 0.53 / ask 0.74)
Yield
1.42% (premium ÷ price)
Delta
0.319
Option IV
28.0%
Open interest
105

Selling one VZ put requires ~$4,300 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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