CarGurus Inc (CARG) Wheel Strategy

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

CarGurus, Inc. operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace that allows customers to search for new and used car listings from its dealers; and connects dealers to a large audience of informed and engaged consumers while providing dealers with actionable data-based insights. It also offers Digital Deal which allows shoppers to start purchase from a VDP on eligible listings that provides them with purchase options; Finance in Advance, where eligible consumers can pre-qualify for financing on cars from dealerships that offer financing from partners; Sell My Car – Top Dealer Offers which allows dealers to make tailored trade-in offers; and Sell My Car – Instant Max Cash Offer which allows consumers to sell vehicles to dealers online.

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