IBM options — covered call & cash-secured put yields
IBM Corporation · Technology
Top 5 covered-call strikes for IBM
Ranked by annualized yield. Updated every 5 minutes during market hours.
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Top 5 cash-secured puts for IBM
Sub-spot strikes ranked by annualized return on capital.
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About IBM options
IBM Corporation (IBM) is a Technology listed company with low implied volatility — premiums are modest but assignment risk is correspondingly small. IBM pays a substantial 4.0% dividend. This makes early-assignment risk around ex-dividend dates a real consideration for covered-call sellers — if the dividend exceeds the call's remaining time value, expect the call to be exercised early.
For wheel-strategy traders, IBM is a solid wheel candidate. The low implied volatility — premiums are modest but assignment risk is correspondingly small means cash-secured puts collect meaningful premium, and the underlying business profile (Technology) makes it a name many income sellers would be comfortable being assigned at the right strike.
For income-strategy traders, the IBM option chain typically supports both conservative (delta around 0.20) and aggressive (delta around 0.35) premium-selling setups. The Live Opportunities ranking above scans every active expiration and surfaces the highest-yielding contracts by annualized return.
Income strategies on IBM
- Covered calls on IBM — if you own IBM shares. New to the strategy? Read the full covered-calls guide first.
- Cash-secured puts on IBM — if you have cash to deploy and would be comfortable owning IBM. See the cash-secured puts guide for mechanics.
- IBM wheel strategy — for repeating CSP → assignment → covered call → called-away cycles. The complete wheel-strategy guide covers stock selection and cycle math.
Related tickers
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Frequently asked questions
What are the best covered-call strikes for IBM right now?
The Top 5 list above ranks every covered-call strike across every upcoming expiration on IBM by annualized yield, refreshed every 5 minutes. Click any strike to open the calculator pre-filled with that contract.
Is IBM a good wheel-strategy stock?
For wheel-strategy traders, IBM is a solid wheel candidate. The low implied volatility — premiums are modest but assignment risk is correspondingly small means cash-secured puts collect meaningful premium, and the underlying business profile (Technology) makes it a name many income sellers would be comfortable being assigned at the right strike.
What delta should I sell on IBM?
Most income sellers target a 0.20 to 0.35 delta strike. Conservative sellers stay near 0.20 (lower yield, lower assignment risk). Aggressive sellers go to 0.35 (higher yield, higher assignment risk). With low implied volatility — premiums are modest but assignment risk is correspondingly small, IBM works well across this range.
Does IBM pay a dividend, and does it affect my covered call?
IBM pays a substantial 4.0% dividend. This makes early-assignment risk around ex-dividend dates a real consideration for covered-call sellers — if the dividend exceeds the call's remaining time value, expect the call to be exercised early.