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Best strikes for WYNN covered calls — top pick $110 with 22.0% annualized return.
Wynn Resorts — Top covered call setups ranked by yield and downside protection
Wynn Resorts (WYNN) operates in the Consumer Discretionary sector and has actively traded listed options. Among current candidates, the strongest income setup sits at the $110 strike with 46 days to expiration. IV Rank 27% is 35pp below the Consumer Discretionary sector median of 62%. This setup offers higher income potential, but caps upside at the strike. WYNN wheel strategy.
Strike Placement
22.0% ann.Ranked #1 of 10 contracts by CC Score — balancing call yield, downside protection, and liquidity.
CC Score = Income (22%) + Safety (18%) + Liquidity (18%) + Quality (14%) + Event (12%) + IV (8%) + Execution (8%)Annualized return, delta, bid-ask spread, open interest, earnings proximity, IV rank, DTE
VolRadar proprietary composite score using ORATS chain data
CC Score optimizes for income generation, not total return. Covered calls cap upside — stocks that rally strongly will underperform a buy-and-hold approach. Past CC returns do not predict future yields.
Every covered call strike sorted by CC Score. Higher score = better risk-adjusted income potential.
★ = Highest risk-adjusted CC Score across all expirations and strikes.
| Strike | Premium | Ann. Yield* | Score |
|---|---|---|---|
| $110⚠️ Spans earnings | $1.20 | 35.5% | 59 |
| $105⚠️ Spans earnings | $2.71 |
Yield is only half the decision. Compare expirations by premium, upside cap, gamma risk, and assignment risk before choosing a contract.
⚠ The highest-yield DTE is not always the best choice for WYNN
Short expirations can look better on yield while carrying more gamma, spread, and event risk.
Quantitative screening, not investment advice. Verify with your broker. Disclaimer
Wynn Resorts currently offers a covered call at the $110 strike with 22.0% annualized return over 46 days. This represents a solid income opportunity for shareholders looking to generate yield on their position. The 6.8% distance to strike provides cushion against early assignment.
Wynn Resorts's IV Rank is 27%, indicating premiums are thinner than usual. In low-IV environments, covered call sellers may need to move closer to the money or use shorter DTE to maintain meaningful yield. Be aware that closer strikes increase assignment probability.
Wynn Resorts has earnings in 3 days. Selling covered calls into earnings carries IV crush risk — premiums are inflated by the event but collapse after the announcement. Consider expirations that expire before the earnings date, or accept that post-earnings IV contraction will reduce the remaining time value.
The top-ranked covered call for Wynn Resorts is the $110 strike expiring 2026-06-18 (46 DTE), offering 22.0% annualized return with a delta of 0.34. It earns a CC Score of 63 out of 100. Data is updated daily after market close.
For Wynn Resorts, delta 0.20–0.30 is a common range for covered calls. This gives 70–80% probability of the option expiring worthless while collecting meaningful premium. Lower delta (0.15–0.20) is more conservative, while 0.30–0.40 generates more income but has higher assignment probability.
The CC Score (0–100) ranks covered call opportunities across 7 dimensions: Income potential (22%), Safety (18%), Liquidity (18%), Underlying Quality (14%), Event Safety (12%), IV Opportunity (8%), and Execution Quality (8%). Higher scores mean better risk-adjusted opportunities. Sort by CC Score to find the best strike and expiration combo for Wynn Resorts.
Free embeddable tool: IV Rank Gauge — add live IV data to any site. No signup, no API key.
This is ★ Top Ranked of 10 contracts across 3 expirations. ↓ Find it below
| 79.9% |
| 56 |
| $107⚠️ Spans earnings | $1.94 | 57.2% | 51 |
| Strike | Premium | Ann. Yield* | Score |
|---|---|---|---|
| $113⚠️ Spans earnings | $1.01 | 18.9% | 49 |
| $107⚠️ Spans earnings | $2.48 | 46.2% | 47 |
| $106⚠️ Spans earnings | $2.70 | 50.4% | 47 |
| Strike | Premium | Ann. Yield* | Score |
|---|---|---|---|
| $110★ TOP⚠️ Spans earnings | $2.86 | 22.0% | 63 |
| $115⚠️ Spans earnings | $1.66 | 12.8% | 59 |
| $105⚠️ Spans earnings | $4.80 | 37.0% | 57 |
| $120⚠️ Spans earnings | $0.92 | 7.1% | 54 |
*Annualized yield assumes hold to expiration with no early assignment. Actual results may vary.
Weekly covered calls (7–14 DTE) offer faster theta decay and more flexibility but require active management. Monthly covered calls (30–45 DTE) balance time premium with less frequent rolling. For Wynn Resorts, consider monthlies to collect more total premium per cycle. The CC Score ranks both DTE ranges so you can compare directly.
The primary risk is capped upside: if Wynn Resorts rallies sharply, you are obligated to sell at the strike price and miss gains above it. At the current top-ranked $110 strike (6.8% OTM), any rally beyond that level means you sell shares below market price. This risk is amplified with earnings in 3 days — a positive surprise can trigger a gap above your strike overnight, locking in the loss of upside before you can react. To contextualize: covered calls are best suited for sideways-to-mildly-bullish outlooks. If you expect a significant move higher, consider waiting to sell the call or using a wider strike. The CC Score penalizes strikes with elevated event risk to help you avoid the worst setups.
Wynn Resorts's IV Rank is 27%, which is relatively low. Premiums may be thin. Consider waiting for IV to rise, using shorter DTE to maintain adequate annualized returns, or moving closer to the money if you are comfortable with the assignment risk.
Wynn Resorts has earnings in 3 days. Selling covered calls into earnings is a double-edged sword: premiums are inflated by event IV, but post-earnings IV crush reduces remaining time value. Many traders choose expirations that expire before the earnings date or accept the crush as part of the premium collected.