First Trust China AlphaDEX Fund (FCA) Wheel Strategy

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

The First Trust China AlphaDEX Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before the Fund's fees and expenses, of an equity index called the Nasdaq AlphaDEX China Index.

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