Fidelity Small-Mid Multifactor ETF (FSMD) Wheel Strategy

Running a FSMD wheel strategy lets you generate consistent premium income on Fidelity Small-Mid Multifactor ETF while setting your own entry and exit prices on the underlying. Fidelity Small-Mid Multifactor 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 FSMD, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best FSMD 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 FSMD, 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 FSMD wheel from a losing one.

Targets stocks of small- and mid-capitalization US companies with attractive valuations, high-quality profiles, positive momentum signals, and lower volatility than the broader market

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