ConocoPhillips 1-month OTM short puts offer yields of 1% or more

The article says ConocoPhillips (COP) shares have moved with oil prices and recently traded around $116.98, off the May 19 close of $125.11 while holding above a recent low of $113.98. It adds that as concerns around the war in Iran have eased, June 2026 WTI crude oil (CLM) futures have rebounded unevenly, keeping put option pricing elevated. Against that backdrop, it highlights that 1-month out-of-the-money put options can offer an annualized-equivalent yield of more than 1%. The piece focuses on a strategy of repeatedly selling and rolling cash-secured puts as a way to capture that premium.