ProShares Big Data Refiners ETF (DAT) Wheel Strategy

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

The fund invests in securities that ProShare Advisors believes, in combination, should track the performance of the index. The index consists of companies that provide analytics and infrastructure for managing and extracting information from large data sets. The fund will invest in all of the component securities of the index in approximately the same proportion as the index. The fund is non-diversified.

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