Normalize any options premium to an annualized return so you can compare a 7-DTE CSP against a 45-DTE covered call on equal footing. Annualized yield = (premium / capital) × (365 / DTE) × 100.
A $3.00 premium on a 7-DTE CSP looks the same as $3.00 on a 45-DTE, but the 7-DTE trade annualizes far higher. Comparing raw premium income without normalizing for time misleads your strategy selection. Use annualized yield to pick the best premium for your capital.