Wheel Screener
Cash-secured puts and covered calls ranked by excess annualized expected return.
Methodology
50 matches
cache: 2026-06-11 20:52 UTC
| Symbol / Side | Underlying ticker (click for full quote page) and option side: PUT = cash-secured put, CALL = covered call. |
|---|---|
| Strike, Expiry, DTE | Contract strike price, expiration date, and days-to-expiration (calendar). The screener considers DTE 5–95. |
| % OTM | How far the strike is from the underlying, as a percent. Puts have strike < price; calls have strike > price. |
| Price / Mid | Current underlying spot, and the option's (bid + ask) / 2. Mid is used for all yield calcs. |
| Δ (delta) | Risk-neutral first derivative. For puts, |delta| ≈ market-implied P(assignment). |
| OI | Open interest on the specific contract. The screener requires OI ≥ 50 + extra sanity for thin contracts. |
| Raw yield | (mid / strike) × (365 / DTE). The naive number every wheel screener prints — see methodology for why it's misleading. |
| p(impl) | Market-implied P(breach) = |short delta|. |
| p(hist 5y) | Empirical P(breach) over the full 5-year price tape at this (DTE, moneyness%) — the historical anchor. |
| p(hist 1y) | Same calculation over the trailing 252 trading days only. Use to see if the recent regime differs from the 5y baseline. |
| Drift | (p(hist 1y) / p(hist 5y) − 1) × 100. Red > +15%: recent regime breaches more than long-run. Green < −15%: recent regime is calmer. |
| Gap | p(impl) − p(hist 5y). Positive = market is pricing assignment risk above what actually happened (the wheel edge). Negative = market is underpricing assignment. |
| Cond loss | Conditional expected loss given assignment, as a fraction of strike: E[(strike − close at expiry) / strike | breach]. |
| Rec 60d | Empirical recovery: P(stock closed ≥ original strike within 42 trading days ≈ 60 calendar days of breach). Higher = more assignments self-resolve via rolling CCs. |
| Exp ann | Annualized expected return per cycle, accounting for breach probability and conditional loss: ((1 − p) × premium + p × (premium − cond_loss × strike)) / strike × (365 / DTE). |
| Rf | Risk-free rate at the DTE-tenor (interp'd from the 4-week / 3-month / 6-month / 1-year Treasury curve). |
| Excess | Exp ann − Rf. The honest excess return your CSP earns above a T-bill. Negative = the trade is worse than just buying T-bills. |
| Liq | Liquidity score: oi_factor × spread_factor. Lower = thinner / wider quotes. |
| Score | Excess × Liq. The composite ranking column. No black-box weights — every input is exposed. |
| IVR | IV rank: where current IV sits in the trailing 90-day range (0–100). Highlighted orange > 50, red > 75. |
| Bag | Bag-hold score (0–3): +1 each for negative 5y return, realized vol > 60%, max 1y drawdown > 50%. Leveraged ETFs get an extra +1. |
| Earn | Red dot = earnings inside the DTE window. Realized moves around earnings are unusually large. |
| LEV / INV badge | Leveraged or inverse ETF tag (LEV3x, LEV2x, INV3x, etc.). Default filter excludes these — see methodology for why. |
| Symbol | Side | Strike | Expiry | DTE | % OTM | Price | Mid | Δ | OI | Raw yield | p(impl) | p(hist 5y) | p(hist 1y) | Drift | Gap | Cond loss | Rec 60d | Exp ann | Rf | Excess | Liq | Score▼ | IVR | Bag | Earn |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ASTS | PUT | $100.00 | 06-18 | 7 | 0.1% | $100.07 | $9.88 | -0.45 | 2,972 | 515% | 44.8% | 43.4% | 45.6% | +5% | +1.4% | 8.2% | 75% | 322% | 3.69% | +319% | 0.95 | 3.029 | 36 | 1 | |
| ASTS | PUT | $95.00 | 06-18 | 7 | 5.1% | $100.07 | $7.22 | -0.37 | 1,510 | 397% | 36.8% | 32.6% | 35.9% | +10% | +4.1% | 7.5% | 76% | 252% | 3.69% | +248% | 0.85 | 2.111 | 36 | 1 | |
| RKLB | PUT | $116.00 | 06-18 | 7 | 1.4% | $117.69 | $9.53 | -0.43 | 253 | 428% | 42.9% | 40.0% | 40.5% | +1% | +3.0% | 6.4% | 73% | 284% | 3.69% | +281% | 0.72 | 2.029 | 65 | 1 | |
| ASTS | PUT | $97.00 | 06-18 | 7 | 3.1% | $100.07 | $8.25 | -0.40 | 289 | 443% | 40.1% | 39.7% | 42.2% | +6% | +0.4% | 8.0% | 75% | 277% | 3.69% | +273% | 0.72 | 1.972 | 36 | 1 | |
| ASTS | PUT | $96.00 | 06-18 | 7 | 4.1% | $100.07 | $7.70 | -0.38 | 205 | 418% | 38.4% | 36.1% | 39.1% | +8% | +2.3% | 7.8% | 75% | 263% | 3.69% | +259% | 0.72 | 1.871 | 36 | 1 | |
| RKLB | PUT | $115.00 | 06-18 | 7 | 2.3% | $117.69 | $9.20 | -0.41 | 1,521 | 417% | 41.4% | 38.7% | 39.2% | +1% | +2.7% | 6.4% | 73% | 279% | 3.69% | +276% | 0.65 | 1.793 | 65 | 1 | |
| RKLB | PUT | $117.00 | 06-18 | 7 | 0.6% | $117.69 | $10.12 | -0.44 | 171 | 451% | 44.4% | 40.0% | 40.5% | +1% | +4.5% | 6.4% | 73% | 303% | 3.69% | +299% | 0.55 | 1.651 | 65 | 1 | |
| ASTS | PUT | $99.00 | 06-18 | 7 | 1.1% | $100.07 | $9.28 | -0.43 | 198 | 489% | 43.3% | 43.4% | 45.6% | +5% | -0.2% | 8.2% | 75% | 302% | 3.69% | +298% | 0.55 | 1.649 | 36 | 1 | |
| SATS | PUT | $128.00 | 06-18 | 7 | 1.4% | $129.88 | $10.00 | -0.43 | 569 | 407% | 43.0% | 35.1% | 29.4% | -16% | +7.8% | 4.8% | 78% | 300% | 3.69% | +296% | 0.55 | 1.636 | 21 | 1 | |
| ASTS | PUT | $93.00 | 06-18 | 7 | 7.1% | $100.07 | $6.22 | -0.34 | 899 | 349% | 33.5% | 26.6% | 30.5% | +15% | +6.9% | 7.1% | 76% | 225% | 3.69% | +222% | 0.72 | 1.603 | 36 | 1 | |
| SATS | PUT | $125.00 | 06-18 | 7 | 3.8% | $129.88 | $8.30 | -0.39 | 1,173 | 346% | 38.5% | 25.8% | 22.1% | -14% | +12.8% | 4.8% | 78% | 250% | 3.69% | +246% | 0.65 | 1.600 | 21 | 1 | |
| ASTS | PUT | $90.00 | 06-18 | 7 | 10.1% | $100.07 | $4.90 | -0.29 | 9,618 | 284% | 28.6% | 18.4% | 22.1% | +20% | +10.2% | 6.5% | 78% | 187% | 3.69% | +183% | 0.85 | 1.560 | 36 | 1 | |
| ASTS | PUT | $98.00 | 06-18 | 7 | 2.1% | $100.07 | $8.82 | -0.42 | 176 | 470% | 41.7% | 43.2% | 45.4% | +5% | -1.5% | 8.2% | 75% | 285% | 3.69% | +281% | 0.55 | 1.552 | 36 | 1 | |
| SATS | PUT | $127.00 | 06-18 | 7 | 2.2% | $129.88 | $9.45 | -0.41 | 225 | 388% | 41.5% | 34.0% | 28.5% | -16% | +7.5% | 4.8% | 78% | 284% | 3.69% | +280% | 0.55 | 1.549 | 21 | 1 | |
| ASTS | PUT | $92.00 | 06-18 | 7 | 8.1% | $100.07 | $5.80 | -0.32 | 286 | 329% | 31.9% | 23.7% | 27.8% | +17% | +8.1% | 6.9% | 77% | 215% | 3.69% | +211% | 0.72 | 1.524 | 36 | 1 | |
| VIAV | PUT | $50.00 | 06-18 | 7 | 0.5% | $50.23 | $2.45 | -0.46 | 2,890 | 256% | 45.9% | 30.4% | 21.4% | -30% | +15.4% | 3.4% | 73% | 174% | 3.69% | +171% | 0.85 | 1.449 | 12 | 1 | |
| PL | PUT | $34.00 | 06-18 | 7 | 1.5% | $34.51 | $2.50 | -0.43 | 1,252 | 383% | 43.0% | 39.5% | 31.8% | -20% | +3.5% | 7.1% | 77% | 225% | 3.69% | +221% | 0.65 | 1.437 | 15 | 1 | |
| RKLB | PUT | $114.00 | 06-18 | 7 | 3.1% | $117.69 | $8.32 | -0.40 | 120 | 381% | 39.8% | 35.0% | 35.2% | +1% | +4.9% | 6.2% | 75% | 251% | 3.69% | +247% | 0.55 | 1.366 | 65 | 1 | |
| RKLB | PUT | $110.00 | 06-18 | 7 | 6.5% | $117.69 | $6.55 | -0.34 | 2,379 | 310% | 33.6% | 21.6% | 21.7% | +1% | +12.0% | 5.8% | 77% | 210% | 3.69% | +206% | 0.65 | 1.339 | 65 | 1 | |
| ASTS | PUT | $94.00 | 06-18 | 7 | 6.1% | $100.07 | $6.75 | -0.35 | 130 | 374% | 35.1% | 29.6% | 33.2% | +12% | +5.5% | 7.3% | 76% | 240% | 3.69% | +237% | 0.55 | 1.308 | 36 | 1 | |
| RKLB | PUT | $113.00 | 06-18 | 7 | 4.0% | $117.69 | $7.78 | -0.38 | 254 | 359% | 38.2% | 31.2% | 31.3% | +0% | +7.0% | 6.1% | 76% | 237% | 3.69% | +233% | 0.55 | 1.288 | 65 | 1 | |
| NBIS | PUT | $225.00 | 06-18 | 7 | 0.3% | $225.62 | $16.88 | -0.46 | 549 | 391% | 45.5% | 36.7% | 37.3% | +2% | +8.8% | 8.9% | 84% | 180% | 3.69% | +176% | 0.72 | 1.272 | 47 | 1 | |
| MRVL | PUT | $272.50 | 06-18 | 7 | 1.3% | $276.10 | $13.88 | -0.43 | 1,300 | 266% | 43.4% | 34.6% | 27.8% | -20% | +8.8% | 5.1% | 80% | 151% | 3.69% | +147% | 0.85 | 1.251 | 70 | 1 | |
| RKLB | PUT | $112.00 | 06-18 | 7 | 4.8% | $117.69 | $7.40 | -0.37 | 385 | 345% | 36.7% | 27.5% | 27.4% | -0% | +9.2% | 6.0% | 77% | 230% | 3.69% | +226% | 0.55 | 1.250 | 65 | 1 | |
| ASTS | PUT | $100.00 | 06-26 | 15 | 0.1% | $100.07 | $12.03 | -0.44 | 738 | 293% | 43.7% | 44.2% | 41.6% | -6% | -0.5% | 12.6% | 67% | 158% | 3.69% | +154% | 0.81 | 1.244 | 36 | 1 | |
| INTC | PUT | $117.00 | 06-18 | 7 | 0.2% | $117.22 | $5.88 | -0.47 | 459 | 262% | 46.7% | 35.5% | 28.2% | -21% | +11.2% | 4.3% | 75% | 157% | 3.69% | +153% | 0.81 | 1.235 | 31 | 1 | |
| NBIS | PUT | $220.00 | 06-18 | 7 | 2.5% | $225.62 | $14.25 | -0.41 | 3,154 | 338% | 40.9% | 35.2% | 35.7% | +2% | +5.7% | 8.9% | 85% | 149% | 3.69% | +145% | 0.85 | 1.232 | 47 | 1 | |
| VSH | PUT | $55.00 | 06-18 | 7 | 6.3% | $58.70 | $2.70 | -0.33 | 1,296 | 256% | 32.9% | 9.1% | 12.6% | +39% | +23.9% | 4.2% | 82% | 184% | 3.69% | +180% | 0.65 | 1.170 | 19 | 0 | |
| INTC | PUT | $115.00 | 06-18 | 7 | 1.9% | $117.22 | $4.85 | -0.41 | 2,154 | 220% | 41.4% | 35.5% | 28.2% | -21% | +5.9% | 4.3% | 75% | 127% | 3.69% | +123% | 0.95 | 1.169 | 31 | 1 | |
| AAOI | PUT | $172.50 | 06-18 | 7 | 0.8% | $173.89 | $13.65 | -0.44 | 149 | 413% | 44.2% | 43.7% | 37.7% | -14% | +0.6% | 8.6% | 74% | 214% | 3.69% | +210% | 0.55 | 1.162 | 11 | 1 | |
| MRVL | PUT | $270.00 | 06-18 | 7 | 2.2% | $276.10 | $12.82 | -0.41 | 4,143 | 248% | 40.9% | 33.6% | 26.9% | -20% | +7.3% | 5.1% | 81% | 140% | 3.69% | +136% | 0.85 | 1.159 | 70 | 1 | |
| NBIS | PUT | $222.50 | 06-18 | 7 | 1.4% | $225.62 | $15.55 | -0.43 | 227 | 364% | 43.2% | 36.7% | 37.3% | +2% | +6.5% | 8.9% | 84% | 164% | 3.69% | +160% | 0.72 | 1.156 | 47 | 1 | |
| MXL | PUT | $80.00 | 06-18 | 7 | 2.4% | $82.00 | $4.90 | -0.41 | 2,049 | 319% | 40.9% | 35.3% | 32.1% | -9% | +5.6% | 6.5% | 76% | 181% | 3.69% | +177% | 0.65 | 1.152 | 15 | 1 | |
| MRVL | PUT | $275.00 | 06-18 | 7 | 0.4% | $276.10 | $14.95 | -0.46 | 724 | 283% | 45.9% | 34.6% | 27.8% | -20% | +11.3% | 5.1% | 80% | 162% | 3.69% | +158% | 0.72 | 1.144 | 70 | 1 | |
| QCOM | PUT | $200.00 | 06-18 | 7 | 1.2% | $202.50 | $7.62 | -0.43 | 4,291 | 199% | 43.2% | 32.1% | 32.5% | +1% | +11.1% | 3.4% | 76% | 122% | 3.69% | +118% | 0.95 | 1.121 | 66 | 0 | |
| INTC | PUT | $116.00 | 06-18 | 7 | 1.0% | $117.22 | $5.33 | -0.44 | 311 | 239% | 44.1% | 35.5% | 28.2% | -21% | +8.6% | 4.3% | 75% | 140% | 3.69% | +136% | 0.81 | 1.102 | 31 | 1 | |
| ASTS | PUT | $91.00 | 06-18 | 7 | 9.1% | $100.07 | $5.38 | -0.30 | 247 | 308% | 30.3% | 21.0% | 24.9% | +18% | +9.2% | 6.7% | 78% | 203% | 3.69% | +199% | 0.55 | 1.100 | 36 | 1 | |
| SATS | PUT | $129.00 | 06-18 | 7 | 0.7% | $129.88 | $10.80 | -0.44 | 676 | 437% | 44.3% | 35.1% | 29.4% | -16% | +9.2% | 4.8% | 78% | 326% | 3.69% | +322% | 0.34 | 1.095 | 21 | 1 | |
| NOK | PUT | $14.00 | 06-18 | 7 | 1.3% | $14.19 | $0.56 | -0.43 | 55,562 | 207% | 42.9% | 26.0% | 23.4% | -10% | +17.0% | 3.3% | 80% | 132% | 3.69% | +129% | 0.85 | 1.094 | 0 | 0 | |
| SATS | PUT | $120.00 | 06-18 | 7 | 7.6% | $129.88 | $5.75 | -0.31 | 4,912 | 250% | 30.8% | 10.7% | 10.8% | +1% | +20.1% | 5.2% | 81% | 167% | 3.69% | +163% | 0.65 | 1.060 | 21 | 1 | |
| CPSH | PUT | $7.50 | 06-18 | 7 | 12.8% | $8.60 | $0.53 | -0.27 | 2,772 | 365% | 27.3% | 5.7% | 9.6% | +69% | +21.7% | 6.8% | 64% | 269% | 3.69% | +265% | 0.40 | 1.059 | 39 | 1 | |
| AAOI | PUT | $170.00 | 06-18 | 7 | 2.2% | $173.89 | $12.55 | -0.41 | 480 | 385% | 41.5% | 42.8% | 36.9% | -14% | -1.3% | 8.6% | 74% | 193% | 3.69% | +190% | 0.55 | 1.048 | 11 | 1 | |
| XOVR | PUT | $20.00 | 06-18 | 7 | 0.4% | $20.09 | $0.85 | -0.46 | 2,904 | 222% | 46.0% | 19.7% | 17.5% | -11% | +26.3% | 2.4% | 72% | 164% | 3.69% | +160% | 0.65 | 1.042 | 42 | 0 | |
| RKLB | PUT | $115.00 | 06-26 | 15 | 2.3% | $117.69 | $11.35 | -0.41 | 511 | 240% | 41.1% | 41.6% | 36.0% | -13% | -0.5% | 9.4% | 64% | 145% | 3.69% | +141% | 0.72 | 1.022 | 65 | 1 | |
| RKLB | PUT | $105.00 | 06-18 | 7 | 10.8% | $117.69 | $4.62 | -0.26 | 1,726 | 230% | 26.2% | 10.9% | 10.5% | -4% | +15.3% | 5.1% | 76% | 160% | 3.69% | +156% | 0.65 | 1.016 | 65 | 1 | |
| INTW | PUT | $290.00 | 06-18 | 7 | 2.6% | $297.72 | $25.50 | -0.41 | 70 | 458% | 40.8% | 39.9% | — | — | +0.9% | 10.3% | — | 239% | 3.69% | +235% | 0.42 | 0.994 | 27 | 1 | |
| GLW | PUT | $175.00 | 06-18 | 7 | 1.4% | $177.43 | $7.30 | -0.43 | 2,064 | 218% | 42.9% | 25.8% | 19.8% | -23% | +17.1% | 2.8% | 81% | 154% | 3.69% | +150% | 0.65 | 0.977 | 21 | 0 | |
| ASTS | PUT | $89.00 | 06-18 | 7 | 11.1% | $100.07 | $4.58 | -0.27 | 591 | 268% | 27.1% | 16.4% | 19.7% | +20% | +10.7% | 6.4% | 79% | 178% | 3.69% | +174% | 0.55 | 0.961 | 36 | 1 | |
| RKLB | PUT | $108.00 | 06-18 | 7 | 8.2% | $117.69 | $5.47 | -0.30 | 119 | 264% | 30.4% | 16.5% | 16.6% | +0% | +13.9% | 5.5% | 77% | 177% | 3.69% | +173% | 0.55 | 0.957 | 65 | 1 | |
| ARM | PUT | $340.00 | 06-18 | 7 | 0.8% | $342.56 | $18.23 | -0.45 | 1,333 | 280% | 44.9% | 37.0% | 36.1% | -2% | +7.9% | 5.7% | 76% | 145% | 3.69% | +141% | 0.65 | 0.919 | 50 | 1 |
Cache refreshed nightly from the live options chain. Backed by a 5-year empirical breach table over ~2,500 wheel-eligible tickers. See the methodology for the formulas behind every column.