JNJ options — covered call & cash-secured put yields
Johnson & Johnson · Healthcare — Pharma
Top 5 covered-call strikes for JNJ
Ranked by annualized yield. Updated every 5 minutes during market hours.
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Top 5 cash-secured puts for JNJ
Sub-spot strikes ranked by annualized return on capital.
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About JNJ options
Johnson & Johnson (JNJ) is a Healthcare — Pharma listed company with low implied volatility — premiums are modest but assignment risk is correspondingly small. JNJ pays a 3.2% dividend. Dividend-capture risk on short calls is moderate. Monitor ex-dividend timing when selling near-term calls.
For wheel-strategy traders, JNJ is an A-tier 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 (Healthcare — Pharma) makes it a name many income sellers would be comfortable being assigned at the right strike.
For income-strategy traders, the JNJ 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 JNJ
- Covered calls on JNJ — if you own JNJ shares. New to the strategy? Read the full covered-calls guide first.
- Cash-secured puts on JNJ — if you have cash to deploy and would be comfortable owning JNJ. See the cash-secured puts guide for mechanics.
- JNJ 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 JNJ right now?
The Top 5 list above ranks every covered-call strike across every upcoming expiration on JNJ by annualized yield, refreshed every 5 minutes. Click any strike to open the calculator pre-filled with that contract.
Is JNJ a good wheel-strategy stock?
For wheel-strategy traders, JNJ is an A-tier 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 (Healthcare — Pharma) makes it a name many income sellers would be comfortable being assigned at the right strike.
What delta should I sell on JNJ?
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, JNJ works well across this range.
Does JNJ pay a dividend, and does it affect my covered call?
JNJ pays a 3.2% dividend. Dividend-capture risk on short calls is moderate. Monitor ex-dividend timing when selling near-term calls.