December 18, 2024
Best ETFs for the Wheel Strategy in 2025
If you're running the wheel strategy and looking to add diversification to your premium collection, ETFs might be exactly what you need. While most wheel traders start with individual stocks, using ETFs can give you exposure to entire sectors or indexes while still generating consistent premium income.
December 13, 2024
How to Choose the Right Delta: A Market Sentiment Guide for Wheel Strategy Traders
Learn how to select the optimal delta for wheel strategy trades based on market conditions. Find the best balance between premium collection and assignment risk.
November 1, 2024
The Wheel Strategy: Playing it Smart Before the Election
With election day approaching on Tuesday, we're all probably feeling the fatigue of political ads bombarding us 24/7. While some platforms are rolling out ways to essentially gamble on election results (looking at you, Robinhood, with your new "event contracts"), we want to focus on something more important: how to handle our wheel strategy positions heading into what could be a volatile week.
September 27, 2024
Options Wheel Strategy Live Trading Session: September 2024
Welcome back my fellow premium pirates! I'm excited to share my latest trades and insights from the options wheel strategy in today's live trading session. If you’ve been following along, you know I like to showcase three solid trades each week, and this time is no different.
September 19, 2024
Historical IV Now Available in the Options Scanner
This week, we rolled out yet another upgrade to the Wheel Strategy Screener. Now, when you use the scanner to find wheel stocks, you’ll see not only the Implied Volatility (IV) but also Historical Volatility (HV). This new feature added several new columns to the results produced by the Options Scanner: IV (30), HV(30/60/90), IV Rank, and IV Percentile.
September 13, 2024
New Wheel Strategy Option Scanner Features - September 2024
Happy Friday the 13th crew. I hope any expiring contracts don’t turn into A Nightmare (on Elm Street). But of course, there’s no reason to be afraid of Freddy today; we’ve got the Premium Pirates tools on our side.
Speaking of… Before we all call it a week, I wanted to share a quick upgrade we made to the Options Scanner this week.
August 31, 2024
New Wheel Strategy Option Scanner Features - August 2024
August 31, 2024
What is up, my fellow market raiders?!
Today, I have some incredibly exciting news to share with you. This week we released not one… not two… but THREE of the most requested upgrades to the options scanner! While we’ve been testing these new features internally, we’ve already found some excellent candidates for the wheel as well as a more profitable way to sell covered calls. Without further adieu, let’s dive into the new features!
August 30, 2024
How to Find the “Best” Stocks for the Wheel Strategy
Last updated: December 13, 2024
If you’re looking for a way to generate income from your investment portfolio and you’ve already explored the traditional methods of dividend stocks, bonds, etc., learning to sell options can be another way to generate income (or premium) from stocks you already own or the available cash in your brokerage account.
In this article, I want to give you a brief introduction to how the wheel strategy works, show you what makes a “good” wheel stock, teach you how to find the best stocks for yourself using a tool, and give you a short list of some stocks to get you started on the wheel strategy.
August 26, 2024
Scanning for the Best Covered Call Opportunities
Whether you're a covered call trader or have been assigned during a wheel trade, the Premium Pirates Wheel Strategy Screener has you covered finding the best covered call opportunities.
August 20, 2024
Three High Premium Wheel Strategy Trades for August 2024
Last month, the stock market was all over the place. I was assigned on several cash-secured puts at the end of July and early August. Sticking to the wheel strategy, I quickly wrote covered calls on these positions at strike prices at my cost basis. Thankfully, the market bounced back, pushing these positions beyond their purchase prices. By August 16, I closed out these positions profitably—about 20% of my open risk turned into gains. It's a pretty solid way to wrap up the week!