Callaway Golf Co (CALY) Wheel Strategy

Running a CALY wheel strategy lets you generate consistent premium income on Callaway Golf Co while setting your own entry and exit prices on the underlying. Callaway Golf Co's wheel combines cash-secured puts and covered calls into a repeatable cycle: sell puts at strikes where you'd be happy to own CALY, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best CALY 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 CALY, 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 CALY wheel from a losing one.

Callaway Golf Company designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. It operates in three business segments: Topgolf, Golf Equipment, and Active Lifestyle. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology. The Golf Equipment segment provides drivers, fairway woods, hybrids, irons, wedges and packaged sets, putters, and pre-owned golf clubs under the Callaway and Odyssey brands, and golf balls under the Callaway Golf and Strata brands.

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 CALY wheel strategy by delta, premium yield, IV rank, and days to expiration, so you can deploy capital where the math works. Build your CALY wheel strategy on data, not gut feel — and let the options wheel do what it does best: pay you to wait.