Gotham Enhanced 500 ETF (GSPY) Wheel Strategy

Running a GSPY wheel strategy lets you generate consistent premium income on Gotham Enhanced 500 ETF while setting your own entry and exit prices on the underlying. Gotham Enhanced 500 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 GSPY, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best GSPY 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 GSPY, 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 GSPY wheel from a losing one.

The fund is an actively-managed ETF that seeks to achieve its investment objective by generally investing in securities of issuers included in the S&P 500 Index. It is not a passive index fund, but instead utilizes an "enhanced" strategy implemented by the fund's investment sub-adviser to invest in the securities in the index and weight those securities based on the Sub-Adviser's assessment of value and each security's weight in the ndex.

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