CVS — Cash-Secured Put & Wheel Strategy Analysis

Q: Is CVS a good wheel strategy stock right now?

CVS is trading at $107.74 with an ATR of $2.49. CVS is trading above all four key moving averages (50/100/150/200-day) — a strong uptrend. Next earnings report is August 05, 2026 (12 days away). Wheel traders should consider closing or rolling CSP positions before earnings to avoid IV crush and gap risk.

Q: Should I close my CVS CSP before earnings?

Most wheel strategy traders close or roll CSPs 1–2 days before earnings because implied volatility typically collapses after the announcement (IV crush). The premium you collected is largely an upfront payment for accepting that volatility risk. Holding through earnings exposes you to gap risk: even if your strike isn't breached, the IV drop alone can wipe out most of the premium you collected.

CVS wheel strategy & cash-secured put scanner. CVS is currently trading at $107.74 and trading above all four key moving averages (50/100/150/200-day) — a strong uptrend. This page shows the live CVS options chain across 2 expirations (2026-07-24 through 2026-07-31, DTE 1–8 days), optimized for cash-secured put and wheel strategy candidates. Next earnings: August 05, 2026 (12 days away). ⚠️ Earnings proximity — consider closing/rolling CSPs before announcement to avoid IV crush.

Highlight criteria: Yield% ≥ 50% | Buffer% ≥ 15% | ATR/Dist ≥ 2.5

2026-07-24

DTE 1 | Trading days: 1

Strike	Mid	Bid	ATR/Dist	Buffer%	Yield%	Premium
55.00	52.78	51.80	21.14	49.0%	35026.7%	52.78
60.00	47.68	46.75	19.14	44.3%	29005.3%	47.68
65.00	42.75	41.70	17.13	39.7%	24005.8%	42.75
70.00	38.03	36.70	15.13	35.0%	19829.9%	38.03
75.00	32.75	31.70	13.12	30.4%	15938.3%	32.75
80.00	27.22	25.75	11.12	25.7%	12419.1%	27.22
81.00	26.12	24.70	10.72	24.8%	11770.1%	26.12
82.00	25.68	24.75	10.32	23.9%	11430.7%	25.68
83.00	24.12	22.70	9.92	23.0%	10607.0%	24.12
84.00	23.70	22.80	9.52	22.0%	10298.2%	23.70
85.00	22.72	21.85	9.12	21.1%	9756.2%	22.72
86.00	21.75	20.75	8.72	20.2%	9231.1%	21.75
87.00	20.58	19.50	8.31	19.3%	8634.1%	20.58
88.00	19.48	18.55	7.91	18.3%	8079.8%	19.48
89.00	18.40	17.85	7.51	17.4%	7546.1%	18.40
90.00	17.42	16.85	7.11	16.5%	7064.8%	17.42
91.00	16.70	15.40	6.71	15.5%	6698.4%	16.70
92.00	15.55	14.75	6.31	14.6%	6169.3%	15.55
93.00	14.25	12.70	5.91	13.7%	5592.7%	14.25
94.00	13.20	12.40	5.51	12.8%	5125.5%	13.20
95.00	12.60	12.10	5.11	11.8%	4841.1%	12.60
96.00	11.48	10.65	4.71	10.9%	4364.8%	11.48
97.00	10.45	9.65	4.31	10.0%	3932.2%	10.45
98.00	9.60	9.20	3.9	9.0%	3575.5%	9.60
99.00	9.28	8.05	3.5	8.1%	3421.4%	9.28
100.00	7.60	7.00	3.1	7.2%	2774.0%	7.60
101.00	6.68	6.00	2.7	6.3%	2414.1%	6.68
102.00	5.58	4.90	2.3	5.3%	1996.8%	5.58
103.00	4.55	3.90	1.9	4.4%	1612.4%	4.55
104.00	3.70	3.15	1.5	3.5%	1298.6%	3.70
105.00	2.62	1.89	1.1	2.5%	910.8%	2.62
106.00	1.54	1.11	0.7	1.6%	530.3%	1.54
107.00	1.00	0.01	0.3	0.7%	341.1%	1.00
108.00	0.58	0.02	-0.1	-0.2%	196.0%	0.58
109.00	1.36	1.02	-0.51	-1.2%	455.4%	1.36
110.00	2.36	1.84	-0.91	-2.1%	783.1%	2.36
111.00	3.47	2.85	-1.31	-3.0%	1141.0%	3.47
112.00	4.22	3.35	-1.71	-4.0%	1375.3%	4.22
114.00	6.40	5.30	-2.51	-5.8%	2049.1%	6.40
115.00	7.40	6.30	-2.91	-6.7%	2348.7%	7.40
120.00	12.48	11.35	-4.91	-11.4%	3796.0%	12.48
121.00	13.48	12.35	-5.32	-12.3%	4066.3%	13.48

2026-07-31

DTE 8 | Trading days: 6

Strike	Mid	Bid	ATR/Dist	Buffer%	Yield%	Premium
55.00	52.78	51.70	21.14	49.0%	4378.3%	52.78
80.00	27.80	26.75	11.12	25.7%	1585.5%	27.80
86.00	21.82	20.75	8.72	20.2%	1157.6%	21.82
87.00	20.82	19.75	8.31	19.3%	1091.9%	20.82
88.00	19.82	18.75	7.91	18.3%	1027.6%	19.82
89.00	18.80	17.75	7.51	17.4%	963.8%	18.80
90.00	17.92	16.95	7.11	16.5%	908.4%	17.92
91.00	16.80	15.75	6.71	15.5%	842.3%	16.80
92.00	15.82	14.75	6.31	14.6%	784.6%	15.82
93.00	14.80	13.75	5.91	13.7%	726.1%	14.80
94.00	13.75	12.75	5.51	12.8%	667.4%	13.75
95.00	13.05	12.20	5.11	11.8%	626.7%	13.05
96.00	11.80	10.80	4.71	10.9%	560.8%	11.80
97.00	10.98	10.00	4.31	10.0%	516.5%	10.98
98.00	9.77	8.85	3.9	9.0%	454.9%	9.77
99.00	8.80	7.85	3.5	8.1%	405.6%	8.80
100.00	8.02	7.35	3.1	7.2%	365.9%	8.02
101.00	6.98	6.05	2.7	6.3%	315.3%	6.98
102.00	6.30	5.40	2.3	5.3%	281.8%	6.30
103.00	5.20	4.95	1.9	4.4%	230.3%	5.20
104.00	4.40	4.20	1.5	3.5%	193.0%	4.40
105.00	3.65	3.45	1.1	2.5%	158.6%	3.65
106.00	3.08	2.76	0.7	1.6%	132.6%	3.08
107.00	2.41	2.16	0.3	0.7%	102.8%	2.41
108.00	1.88	1.63	-0.1	-0.2%	79.4%	1.88
109.00	1.34	1.20	-0.51	-1.2%	56.1%	1.34
110.00	0.96	0.90	-0.91	-2.1%	39.8%	0.96
111.00	0.76	0.62	-1.31	-3.0%	31.2%	0.76
112.00	0.48	0.43	-1.71	-4.0%	19.6%	0.48
113.00	0.39	0.31	-2.11	-4.9%	15.7%	0.39
114.00	0.29	0.17	-2.51	-5.8%	11.6%	0.29
115.00	0.18	0.09	-2.91	-6.7%	7.1%	0.18
117.00	0.11	0.05	-3.71	-8.6%	4.3%	0.11
118.00	0.10	0.03	-4.11	-9.5%	3.9%	0.10
99.00	0.18	0.02	3.5	8.1%	8.3%	0.18
100.00	0.38	0.12	3.1	7.2%	17.3%	0.38
101.00	0.46	0.14	2.7	6.3%	20.8%	0.46
102.00	0.34	0.25	2.3	5.3%	15.2%	0.34
103.00	0.46	0.37	1.9	4.4%	20.4%	0.46
104.00	0.67	0.54	1.5	3.5%	29.4%	0.67
105.00	0.91	0.77	1.1	2.5%	39.5%	0.91
106.00	1.21	1.05	0.7	1.6%	52.1%	1.21
107.00	1.58	1.37	0.3	0.7%	67.4%	1.58
108.00	1.99	1.77	-0.1	-0.2%	84.1%	1.99
109.00	2.60	2.38	-0.51	-1.2%	108.8%	2.60
110.00	3.28	3.05	-0.91	-2.1%	136.0%	3.28
111.00	3.98	3.70	-1.31	-3.0%	163.6%	3.98
113.00	5.70	4.85	-2.11	-4.9%	230.1%	5.70
114.00	6.65	5.65	-2.51	-5.8%	266.1%	6.65
115.00	8.90	7.45	-2.91	-6.7%	353.1%	8.90
116.00	8.88	8.05	-3.31	-7.7%	349.3%	8.88
120.00	13.42	11.60	-4.91	-11.4%	510.2%	13.42

CVS — Cash-Secured Put & Wheel Strategy FAQ

What is the best CVS cash-secured put strike today?

OptionSpeed's scanner highlights CVS strikes that meet our three filters: annualized yield ≥ 50%, downside buffer ≥ 15%, and ATR/Distance ratio ≥ 2.5. Stars on this page mark strikes currently in our Super Stocks cache. As of this snapshot, the highest-yielding CSP candidate on CVS is the $109.00 strike at 455.4% annualized.

Is CVS a good wheel strategy stock right now?

CVS is trading at $107.74 with an ATR of $2.49. CVS is trading above all four key moving averages (50/100/150/200-day) — a strong uptrend. Next earnings report is August 05, 2026 (12 days away). Wheel traders should consider closing or rolling CSP positions before earnings to avoid IV crush.

How much capital do I need to sell a CVS cash-secured put?

Cash-secured puts require you to hold enough cash to buy 100 shares at the strike price if assigned. For a $109.00 strike on CVS, you need $10,900 in cash per contract. Strikes closer to the current $107.74 price require more capital but offer higher premiums and lower assignment probability.

What does the wheel strategy look like on CVS?

The wheel on CVS follows three steps: (1) sell a CSP at a strike you'd be comfortable owning CVS at; (2) if assigned, you own 100 shares at the strike price; (3) sell covered calls against those shares to collect premium while waiting for the call to expire worthless or the stock to be called away. OptionSpeed tracks every step so you can see your rolling premium and realized P&L.

Should I close my CVS CSP before earnings?

Most wheel traders close or roll CSPs 1–2 days before earnings because implied volatility typically collapses after the announcement (IV crush). The premium you collected is largely an upfront payment for accepting that volatility risk. Holding through earnings exposes you to gap risk — even if your strike isn't breached, the IV drop alone can wipe out most of your collected premium.

What's a good buffer percentage for CVS puts?

Buffer percentage measures how far the strike is below the current stock price. For CVS at $107.74, a strike at $100.00 gives the largest downside buffer in our current chain. OptionSpeed flags strikes with ≥15% buffer as wheel-quality candidates. Lower buffer = higher premium but higher assignment probability.