Wheel strategy · $F
Wheeling $F covered calls & cash-secured puts
Ford Motor Company last traded at $11.91 (Nov 13, 2026). The featured monthly expiry is Dec 18, 2026, 34 days out.
Price
$11.91
52-week $11.11 – $17.78
Volatility
31%
Implied, at the money
Expected move
±$1.12
±9.4% to Dec 18, 2026
Dividend yield
5.04%
Trailing 12 months
Next earnings
—
01
The numbers that matter
What a wheel seller checks before opening a trade.
Volatility & expected move
Implied volatility of 31% implies a one-standard-deviation move of about ±$1.12 (9.4%) by Dec 18, 2026 — a range of roughly $10.79 to $13.03.
3-month historical volatility: 31%.
Dividends
$F paid $0.60 per share over the last 12 months (4 payments), a trailing yield of 5.04%.
Next ex-dividend (estimated from its payment history): Feb 10, 2027
Earnings
No upcoming earnings date on file.
02
Sample trades at ~30 days
One contract at the listed strike closest to 30 delta (its actual delta is shown), computed with the YieldCove calculator’s maths.
Cash-secured put
- Strike
- $11.00
- Delta (this strike)
- 0.19
- Premium
- $0.13
- Cash secured
- $1,100.00
- Credit collected
- $13.00
- Return on capital
- 1.18% · 12.7% annualised
- Breakeven
- $10.87
- Cushion to breakeven
- 8.7%
- Chance of assignment
- 24%
Premium = last trade on Nov 13, 2026 (delayed; the live bid/ask can differ).
Open in the calculatorCovered call
- Strike
- $13.00
- Delta (this strike)
- 0.19
- Premium
- $0.12
- Share cost
- $1,191.00
- Credit collected
- $12.00
- Return on capital
- 1.01% · 10.8% annualised
- If called away (this cycle)
- 10.16%
- Breakeven
- $11.79
- Chance of being called
- 16%
Assumes 100 shares bought at today’s price. Premium = last trade on Nov 13, 2026 (delayed; the live bid/ask can differ).
Open in the calculator03
How the wheel works on $F
Sell a cash-secured put. At a $11.00 strike you would collect about $0.13 per share and need $1,100.00 set aside. If $F stays above $11.00 until Dec 18, 2026, you keep the premium and can sell another put.
If assigned, you own 100 shares. Your effective cost is the strike minus the premium — $10.87 in the example above — not the strike itself.
Sell covered calls above your cost. A $13.00 call would pay about $0.12 per share; if $F finishes above $13.00, the shares are called away and the cycle starts again.
$F sits in the middle of the volatility range: premiums are meaningful and moves can be sharp. Position size matters more than strike selection here.
04
Common questions
What the numbers mean — and what they leave out.
- What strike should I use to wheel $F?
- Many wheel sellers start near 30 delta, about 30 days out. With $F at $11.91, that was roughly a $11.00 put and a $13.00 covered call for the Dec 18, 2026 expiry at the last refresh. Pick a put strike you would genuinely be happy to own the stock at.
- How much money do I need to wheel $F?
- One cash-secured put reserves 100 × the strike: about $1,100.00 at a $11.00 strike. That cash stays locked until the put expires, is closed, or you are assigned.
- Does $F report earnings before the next monthly expiry?
- No upcoming earnings date is on file for $F right now; check the company’s investor-relations page before you trade.
- Does $F pay a dividend, and why does it matter for the wheel?
- Yes: $0.60 per share over the last 12 months (a 5.04% trailing yield). While you hold the shares between puts and calls you collect it, but an in-the-money covered call can be assigned early just before the ex-dividend date.
- Is wheeling $F safe?
- No options strategy is risk-free. The wheel’s main risk is owning 100 shares after a large drop: premium cushions a fall, it does not prevent one. This page is educational and not a recommendation to trade $F.
05
Keep exploring
Track this wheel free
Log the put, the assignment and the calls in one place: YieldCove tracks premium, cost basis and annualised return across the whole cycle — free.
Data: delayed Yahoo Finance prices and option trades, Nasdaq/FMP earnings calendars and the YieldCove catalyst roadmap; refreshed every few hours. As of Nov 13, 2026.
Educational content only — not financial advice or a recommendation to buy or sell $F or any option. Options involve risk and are not suitable for every investor. Market data is delayed and may be incomplete. Full disclaimer
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