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XOM wheel strategy yields

Last price $179.67 · Expiry 2026-12-04 (32 DTE) · IV 34% · Next earnings 2027-01-29

Cash-secured put

20.9% annualized
Strike
$170.0
Premium (mid)
$3.12 (bid 2.88 / ask 3.35)
Yield
1.84% (premium ÷ strike)
Delta
-0.278
Option IV
34.8%
Open interest
46

Covered call

19.4% annualized
Strike
$190.0
Premium (mid)
$3.05 (bid 2.75 / ask 3.35)
Yield
1.7% (premium ÷ price)
Delta
0.306
Option IV
33.9%
Open interest
333

Selling one XOM put requires ~$17,000 cash collateral per contract. Figures are mid-prices from delayed data as of 2026-11-02.

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