PFE options — covered call & cash-secured put yields
Pfizer Inc. · Healthcare — Pharma
Top 5 covered-call strikes for PFE
Ranked by annualized yield. Updated every 5 minutes during market hours.
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Top 5 cash-secured puts for PFE
Sub-spot strikes ranked by annualized return on capital.
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About PFE options
Pfizer Inc. (PFE) is a Healthcare — Pharma listed company with modest implied volatility — predictable premiums with manageable risk. PFE pays a substantial 6.0% 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, PFE is an excellent wheel candidate. The modest implied volatility — predictable premiums with manageable risk 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 PFE 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 PFE
- Covered calls on PFE — if you own PFE shares. New to the strategy? Read the full covered-calls guide first.
- Cash-secured puts on PFE — if you have cash to deploy and would be comfortable owning PFE. See the cash-secured puts guide for mechanics.
- PFE 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 PFE right now?
The Top 5 list above ranks every covered-call strike across every upcoming expiration on PFE by annualized yield, refreshed every 5 minutes. Click any strike to open the calculator pre-filled with that contract.
Is PFE a good wheel-strategy stock?
For wheel-strategy traders, PFE is an excellent wheel candidate. The modest implied volatility — predictable premiums with manageable risk 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 PFE?
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 modest implied volatility — predictable premiums with manageable risk, PFE works well across this range.
Does PFE pay a dividend, and does it affect my covered call?
PFE pays a substantial 6.0% 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.