Delek Logistics Partners LP (DKL) Wheel Strategy

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

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates through three segments: Pipelines and Transportation, Wholesale Marketing and Terminalling, and Investment in Pipeline Joint Ventures. The Pipelines and Transportation segment includes pipelines, trucks, and ancillary assets that provide crude oil gathering, crude oil intermediate and refined products transportation, and storage services primarily in support of the Tyler, El Dorado, and Big Spring refineries, as well as offers crude oil and other products transportation services to third parties.

This segment operates approximately 400 miles of crude oil transportation pipelines; 450 miles of refined product pipelines; and approximately 900 miles of crude oil gathering, and intermediate and refined products storage tanks with an aggregate of approximately 10.2 million barrels of active shell capacity. The Wholesale Marketing and Terminalling segment provides wholesale marketing, transporting, storage, and terminalling services related to refined products to independent third parties. The Investments in Pipeline Joint Ventures Segment owns a portion of three joint ventures that have constructed separate crude oil pipeline systems and related ancillary assets, which serves third parties and subsidiaries. Delek Logistics GP, LLC serves as the general partner of the company. Delek Logistics Partners, LP was incorporated in 2012 and is headquartered in Brentwood, Tennessee. Delek Logistics Partners, LP operates as a subsidiary of Delek US Holdings, Inc.

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