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Petroleo Brasileiro-Spon (PBR) — wheel strategy suitability
Where PBR sits as an underlying for selling cash-secured puts and covered calls, and what its own price history says about the risk of being assigned into a falling stock. Snapshot of 3 October 2026.
Petroleo Brasileiro-Spon (PBR) scores 91 on the Wheel score, which puts it in the preferred band for selling cash-secured puts and covered calls.
The score is carried by its valuation (95/100) and held back by quality (76/100). That cheapness matters mainly on the put side — it is the cushion you have if you are assigned. The quality leg is the weak one, so read the balance sheet before you accept assignment rather than after.
It has weekly options, so no liquidity haircut is applied — weeklies let you roll on a shorter cycle and take theta more often.
Over the last 3.0 years it had 1 day with a fall of 10% or more (0.34 a year), a deepest drawdown of -26.9%, and a worst single session of -11.5%. That is better than the median screened name (0.67 gap-downs a year, -44.9% typical worst drawdown).
Realised volatility runs about 32% annualised. That sits in the range where premium is worth collecting without the stock being wild.
Entry timing currently reads extended: the stock has run. Covered calls fit that better than puts.
Score breakdown
| Wheel score | 91 | 0–100 suitability for options selling |
|---|---|---|
| Quality | 76 | ROIC, margins, leverage, accruals |
| Valuation | 95 | cheaper on fwd P/E, EV/EBITDA, FCF yield |
| Margin stability | 91 | steadier earnings score higher |
| Options listed | Weekly | weekly avoids the liquidity haircut |
| Accounting flags | 0 | −8 points each |
Realised tail risk
Computed from our own daily price history, 2023-10-04 to 2026-10-01 (749 sessions). The Wheel score is built from fundamentals, so these price-derived numbers are an independent check on it, not a restatement of it.
| Days falling 10%+ in one session | 1 | 0.34 a year |
|---|---|---|
| Deepest drawdown | -26.9% | peak to trough |
| Worst single session | -11.5% | |
| Realised volatility | 32% | annualised |
Fundamentals
| Revenue (ttm) | 150,852M USD |
|---|---|
| Revenue CAGR (3y) | 10.3% |
| Net margin | 12.9% |
| Return on equity | 10.7% |
| Share price | $20.98 |
| Days to earnings | 38 |
| Sector / industry | Energy · Oil & Gas Integrated |
Open the PBR options chain on Yahoo Finance to check live strikes and premium — this page deliberately carries no quotes, because a quote baked into a static page is stale before you read it.
Run the numbers on PBR
Pre-filled with the snapshot price of $20.98 and 30-day realised volatility; add the strike and premium from the live option chain.