LLY options — covered call & cash-secured put yields
Eli Lilly · Healthcare
Top 5 covered-call strikes for LLY
Ranked by annualized yield. Updated every 5 minutes during market hours.
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Top 5 cash-secured puts for LLY
Sub-spot strikes ranked by annualized return on capital.
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About LLY options
Eli Lilly (LLY) is a Healthcare listed company with elevated implied volatility — richer premiums offset by higher assignment risk. LLY pays a small 0.7% dividend. Dividend-capture early-assignment risk is minimal but worth tracking.
For wheel-strategy traders, LLY is a workable wheel candidate. The elevated implied volatility — richer premiums offset by higher assignment risk means cash-secured puts collect meaningful premium, and the underlying business profile (Healthcare) makes it a name many income sellers would be comfortable being assigned at the right strike.
For income-strategy traders, the LLY 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 LLY
- Covered calls on LLY — if you own LLY shares. New to the strategy? Read the full covered-calls guide first.
- Cash-secured puts on LLY — if you have cash to deploy and would be comfortable owning LLY. See the cash-secured puts guide for mechanics.
- LLY wheel strategy — for repeating CSP → assignment → covered call → called-away cycles. The complete wheel-strategy guide covers stock selection and cycle math.
Related tickers
Other Healthcare names with similar liquidity profile:
Frequently asked questions
What are the best covered-call strikes for LLY right now?
The Top 5 list above ranks every covered-call strike across every upcoming expiration on LLY by annualized yield, refreshed every 5 minutes. Click any strike to open the calculator pre-filled with that contract.
Is LLY a good wheel-strategy stock?
For wheel-strategy traders, LLY is a workable wheel candidate. The elevated implied volatility — richer premiums offset by higher assignment risk means cash-secured puts collect meaningful premium, and the underlying business profile (Healthcare) makes it a name many income sellers would be comfortable being assigned at the right strike.
What delta should I sell on LLY?
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 elevated implied volatility — richer premiums offset by higher assignment risk, LLY works well across this range.
Does LLY pay a dividend, and does it affect my covered call?
LLY pays a small 0.7% dividend. Dividend-capture early-assignment risk is minimal but worth tracking.