Bank of Montreal (BMO) Wheel Strategy

Running a BMO wheel strategy lets you generate consistent premium income on Bank of Montreal while setting your own entry and exit prices on the underlying. Bank of Montreal's wheel combines cash-secured puts and covered calls into a repeatable cycle: sell puts at strikes where you'd be happy to own BMO, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best BMO wheel strategy setups in real time.

The wheel works best on liquid, high-quality names with stable fundamentals and active options markets — exactly the profile many large-cap leaders fit. The mechanics are simple: sell a cash-secured put on BMO, collect premium, and either keep the premium if it expires worthless or take assignment at a discount to current price. Once assigned, sell covered calls against the shares to keep collecting premium until they're called away. Choosing the right strikes, expirations, and IV environment is what separates a profitable BMO wheel from a losing one.

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers. It also offers investment and wealth advisory services; digital investing services; financial services and solutions; and investment management, and trust and custody services.

The difference between a wheel that compounds and one that bleeds comes down to strike selection, IV timing, and discipline on assignment. Our scanner handles the heavy lifting: it ranks every leg of the BMO wheel strategy by delta, premium yield, IV rank, and days to expiration, so you can deploy capital where the math works. Build your BMO wheel strategy on data, not gut feel — and let the options wheel do what it does best: pay you to wait.