PFE wheel: cash-secured put & covered-call yields
Pfizer Inc. · Healthcare · $29.45 close on Nov 11, 2026
What the Nov 11, 2026 close says about PFE
At 22.0% implied volatility, the options market is pricing a one-standard-deviation move of about $1.86 (6.3%) in PFE by Dec 11, 2026, 30 days out.
Open interest in the stored window totals 174,063 contracts; the largest single line is the $30 call expiring Jan 15 with 67,381 (38.7% of the window).
By options volume PFE ranks #77 of 679 names in our universe.
Near-the-money options volume (273) is 65% below its 5-session average.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on PFE
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $28 | −0.23 | $0.28 Nov 11 | $28.00 | $2,800 | 1.00% | 12.2% | $27.72 | 517 | 32 |
Snapshot #9194 · session 2026-11-11 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $28 | −0.29 | $0.56 Nov 11 | $56.00 | $2,800 | 2.00% | 11.2% | $27.44 | 7,180 | 78 |
| 0.20Δ | $27 | −0.19 | $0.30 Nov 11 | $30.00 | $2,700 | 1.11% | 6.2% | $26.70 | 34,376 | 454 |
Snapshot #9194 · session 2026-11-11 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 65
Covered calls on PFE
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $31 | 0.24 | $0.26 Nov 11 | $26.00 | 0.88% | 10.7% | 6.15% | 74.8% | 650 | 38 |
Snapshot #9194 · session 2026-11-11 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 30
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $31 | 0.33 | $0.66 Nov 11 | $66.00 | 2.24% | 12.6% | 7.50% | 42.1% | 10,064 | 289 |
| 0.20Δ | $32 | 0.23 | $0.40 Nov 11 | $40.00 | 1.36% | 7.6% | 10.02% | 56.2% | 32,701 | 222 |
Snapshot #9194 · session 2026-11-11 · captured 22:20 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 65
PFE volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 22.0%session 2026-11-11
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 174,063 contractssession 2026-11-11
- Largest open-interest line
- $30 call · Jan 15 · 67,381
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #77 of 679 optionable names by options volume
How these numbers are made
One end-of-day snapshot per session from a 15-minute-delayed feed. A premium is a contract’s last trade, used only if it printed that session, sits above intrinsic value and is in order with its neighbours; deltas are the feed’s own. Expiries are the first at least 30 and 60 days out, and nothing under 30 days is annualized. Not investment advice. Full methodology.
- No contract near 0.30Δ traded this session
- We are building our own daily implied-volatility history (34 of 252 sessions so far); IV rank and percentile need a full year of it.
- Our data provider does not license announced earnings dates, and we do not publish estimates.
- Our data feed carries last trades, not live bid/ask quotes, so we cannot show a spread.